Iran’s natural gas exports up 19% in March-August

Iran’s natural gas exports up 19% in March-August

Iranian Oil Ministry says natural gas exports from the country rose by nearly a fifth in the five months to late August.

CEO of the National Iranian Gas Company (NIGC) Majid Chegeni said on Saturday that gas exports from Iran had been at an average of 70 million cubic meters (mcm) per day in the March-August period, up 19% from the same period last year.

Chegeni told the Oil Ministry’s news service Shana that gas exports to Turkiye had increased over the five months to late August although he did not elaborate on exact figures.

The official said the NIGC had collected some $1.6 billion in gas export revenues in March-August, an increase of 64% compared with the same period last year.

Iran supplies natural gas through pipelines to Iraq and Turkiye. That comes as exports account for less than 10% of Iran’s total daily gas output which is believed to be above 800 mcm per day in normal production days.

Analysts say Iran may increase its gas exports to Turkiye in the near future as it prepares to take delivery of Russian gas supplies through Azerbaijan mainly for domestic consumption in the northwest. That could free up resources in the southwest and west for exports to Turkey and Iraq.

Exports to Iraq currently account for a bulk of Iranian natural gas exports. That comes as supplies to the Arab country had dropped to all-time lows earlier this year because of unsettled arrears related to previous exports.

Reports suggest Iran is also planning to boost its capacity for exports of liquefied natural gas (LNG) through partnerships with Nigeria and Russia.

 

 

By PRESS TV