Bypassing sanctions by replacing gas with gasoline

TEHRAN, May 04 (MNA) – Project commissioner of compressed natural gas (CNG) plan of the National Iranian Oil Products, Refining and Distribution Company (NIOPRDC) Hamid Ghasemi Deh-Cheshmeh said on Saturday that the country can bypass sanctions by replacing gas with gasoline.

Speaking at CNG Conference held on the last day of 24th Iran International Oil, Gas, Refining and Petrochemical Exhibition dubbed ‘Iran Oil Show’ in Tehran, he said, “security of energy was once related only to producers but today, consumers play a leading role in this respect.”

Presently, 60 percent of energy security in the world is related to the producers while consumers’ share is 40 percent, he added.

He put the average gasoline consumption volume in the last Iranian calendar year (ended March 20, 2019) at 88 million lit./day and added, “Iran is considered as the second cheapest in terms of energy prices. Each liter of gas oil (diesel), gasoline and CNG is estimated at 2, 8 and 3 cents respectively.”

Five years and $3 billion worth of investment is needed to increase production of 10llion liters of gasoline per day, he emphasized.

Once objectives of CNG plans are realized in the country, gasoline consumption volume will decrease from 90 million to 50 million liters.

MA/IRN83302374

News Code 144844

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