Iran enjoys positive BOT in gas exports

TEHRAN, Sep. 07 (MNA) – NIGEC managing director has announced that Iran’s gas has gained a positive Balance of Trade (BOT) in the current Iranian year (began March 20).

Managing Director of National Iranian Gas Exports Company (NIGEC) Alireza Kameli made the remarks saying “at the present time, value of the country’s gas exports exceeds that of its imports bringing about a trade surplus.”

“Despite the rise in gas production, a positive balance in gas was not achieved over the previous year since the product was mainly transferred to power plants.”

The official also noted that, presently, a total of 95 per cent of power houses consume natural gas instead of liquid oil; “given that all power stations are planned to rely on natural gas, the rise in gas production would lead to a surge in the country’s gas production overcapacity.”

Kameli clarified that volume of gas exports is scheduled to climb in line with increased production adding “upon finalization of gas export negotiations with foreign companies, the Planning Department at National Iranian Oil Company (NIOC) would issue the license for gas delivery to the foreign country of company for a specific time period.”

In light of forthcoming projects, volume of Iran’s gas exports would definitely climb, said NIGEC managing director stressing “so far, talks have been conducted with a number of foreign firms eager to participate in FLNG or mini-LNG projects.”

By Mehr News Agency