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Iran to ink 3 gas deals with Asian, European countries

Source: Tehran Times

Iran is finalizing deals to export natural gas to two Persian Gulf states and a European country, the Fars News Agency reported on Saturday. The European gas deal aims to export 20-25 million cubic meters of gas, the report added, without giving any further details.

Iran is currently exporting gas only to Turkey. The country has signed gas-swap deals with Armenia and Azerbaijan. Negotiations are also underway to ink gas export deals with Switzerland, Iraq, Pakistan and Syria.

Daily gas production in Iran is about 600 million cubic meters, and in future this figure will increase up to 1.2 billion cubic meters. According to the National Iranian Gas Company, the country's oil and natural gas reserves account for 10 percent and 16 percent of the world total reserves, respectively.

Iran, which sits on the world's second largest natural gas reserves, is making efforts to boost its production by attracting foreign and domestic investment, especially in its South Pars gas field.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

... Payvand News - 07/14/12 ... --

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