Gas annual production capacity hits 260 bcm

News ID: 2998228 -
TEHRAN, Dec. 13 (MNA) – Deputy oil minister has said Iran’s gas production capacity has reached 260 billion cubic meters per year.

Pointing to the implementation of the comprehensive plan for Iran’s gas industry, Hamidreza Araghi said “major developments are expected to come by over the next six years.”

“The plan consists of 300 modules the implementation of which would bring about important achievements to the country’s gas industry,” said the official enumerating the advantages of Iran’s strategic position in the region and the world which facilitate the process of boosting international relations including the shortest path to the domestic markets, the largest gas production capacity in the world, big infrastructure for exporting gas to different parts of the world, requiring minimum investment as well as possibility of export.

The head of National Iranian Gas Company (NIGC) further deemed gas exports as a strategically important project adding “according to the project, 2.28 billion dollars of investment will be made by the private sector for the first time in the Iran and the investors will receive their interest from gas sales.”

Araghi stressed that Iran possesses the world’s largest hydrocarbon reserves having 34 trillion cubic meters of gas reserves; “In 2014, Iran ranked fourth in gas production as well as consumption by producing 173 billion cubic meters of natural gas.”

Highlighting the existence of 10 gas refineries in the country with annual production capacity of 260 billion cubic meters, Araghi reiterated “more than 10 main lines and 36 thousand kilometers of gas pipelines account for gas transmission around the country.”

 

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