29 Mar 2024
Saturday 17 June 2017 - 09:36
Story Code : 264929

Iran still worlds biggest natural gas player



Press TV - A new report shows Iran still has the worlds largest reserves of natural gas and is closely followed by market rivals Russia and then Qatar.

The global energy giant British Petroleum (BP) in its annual report on world energy reserves put Irans natural gas reserves at 33.5 trillion cubic meters (tcm).

The figure was obtained as a result of estimates obtained at the end of 2016 and BP said in its report named Statistical Review of World Energy 2017 that Irans reserves had remained unchanged from last year.

BP further put the reserves of Russia Irans closest rival in terms of gas reserves - at 32.3 tcm.

The worlds third largest reserves at 24.3 tcm belong to Qatar with which Irans shares its huge South Pars gas field.

Irans gas reserves account for 18 percent of worlds total. The reserves of Russia and Qatar account for 17.3 percent and 13 percent of the global total, respectively.

In terms of production, the United States maintained its market supremacy in 2016 by producing around 750 billion cubic meters (bcm) of gas.

Russia came next with about 580 bcm and was followed by Iran at 202.4 bcm.

The next biggest producers were Qatar (181.2 bcm), Canada (152 bcm), China (139 bcm), Norway (116 bcm) and Saudi Arabia (109 bcm).

According to the BP report, Iran also has the worlds fourth largest reserves of crude oil at 158.4 billion barrels (bbl).

At the top of the list stands Venezuela with 300 bbl and is followed by Saudi Arabia (266.5 bbl) and Canada (171.5 bbl).

Iran is followed by Iraq (153 bbl), Russia (109 bbl), and Kuwait (101.5 bbl) in the league of countries with triple digit oil reserves.

https://theiranproject.com/vdcb5ab59rhb09p.4eur.html
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