Over $40b investment capacity in post-sanction Iran gas industry: CEO

TEHRAN, Dec. 27 (Shana) – The gas industry in Iran has the capacity to attract investment projects worth more than 40 billion dollars based on BOO and BOT methods following removal of sanctions, said managing director of National Iranian Gas Company (NIGC).

“Through establishment of logical relations in the post-sanctions era, Iran can export gas to the neighboring countries without any problem,” Hamid-Reza Araqi told Shana.
“Iran enjoys such advantages as shortest route to gas markets, world’s largest gas production capacity, holding massive infra-structures to export gas to multiple destinations, and lowest investment costs,” he added.

The CEO said NIGC also has the capacity to process gas to value-added products as well as to inject it to oil wells for IOR/EOR purposes.
Iran has the potential to increase its daily gas exports from existing 80 million cubic meters daily to 300 mcm, Araqi told reporters on the sidelines of the Iranian Petroleum and Energy Club 2015 Congress and Exhibition (IPEC 2015) in October.

Iran introduced its new oil contracts in November in Tehran which will be followed by a conference in London in February next year.
“More than cash or using the technology, we would like to have foreign companies’ advanced technology to be transferred to domestic companies,” Minister of Petroleum Bijan Zangeneh said in a televised program in September.

By SHANA