BRUSSELS�Iran could become a major supplier of natural gas to the European Union by the end of the next decade, according to new estimates from the bloc�s executive following the nuclear deal reached with Tehran this summer.

The European Commission now believes that the bloc could import between 25 billion and 35 billion cubic meters of gas a year from Iran by 2030, according to a European official and a representative of a European energy company. That would put future gas supplies from Iran on a similar level to current imports from North Africa and help reduce the bloc�s dependence on shipments from Russia. Russia currently ships around 130 BCM a year to the EU.

Western governments and energy companies have been positioning themselves to once again tap Iran�s rich oil and gas reserves since the prospects of a nuclear deal�and a resulting easing of sanctions on Tehran�improved earlier this year.

Earlier this month, the EU�s energy and climate commissioner,�Miguel Arias Ca�ete,�held a lunch meeting with delegates from European energy companies, including�RWE�AG,�E.On�AG,�BP�PLC,�Royal Dutch Shell�PLC,�Repsol�SA,�Total�SA,�Engie�SA�and�Statoil�ASA�to discuss possibilities in Iran.

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