Iran’s oil minister said completion of new development phases at the South Pars gas field will help the country to raise extraction of gas from the joint offshore field to a level equal to that of Qatar by next March.
Minister of Industries, Mines and Trade Mohammad-Reza Nematzadeh said on Monday, August 1, that the Iranian gas industry is now fully indigenous as the majority of its equipment is made inside the country.
Iran said on Friday that it will take over Qatar in production of natural gas from a key field that both share as it expects a significant rise in production from the field before March 2017.
Iran says its gas recovery from the supergiant South Pars gas field will catch up with that of Qatar before the end of the current Iranian calendar year which began on March 20.
Official in charge of the 12th edition of Kish International Energy Exhibition, dubbed Kish ENEX 2016, says a total of 195 companies from Iran and other countries have taken part in this year’s exposition.
Iran brings online two more operations in its biggest gas field, marking the opening of the first such project all carried out by domestic entities in the face of Western sanctions.
As Iran is preparing for the removal of sanctions and the openings that it will create in various sectors, fresh debates are emerging in the country over the need to devise more efficient energy policies – what is expected to help the country’s economic growth.
Iran-India undersea gas pipeline is planned to be built within two years following the necessary approvals and after a gas sale and purchase agreement is signed, managing director of National Iranian Gas Export Company says.
Virtually 70 percent of the world’s gas reserves belong to the member states of the summit and these countries can have effects on important international issues, especially on energy-related issues, President Rouhani said.
The GECF also picked Iran’s Oil Minister Bijan Zanganeh as deputy chairman and Qatar’s Minister of Energy and Industry Mohammed Saleh Al Sada as chairman of the Forum.
Islamabad has said that it will fulfill its undertaking to lay gas pipelines on Pakistan soil, adding that gas imports from Iran will begin as of late 2016 or early 2017.
An Iranian MP did not rule out the possibility of a contractual penalty delay on Pakistan after it failed to honor its obligations under a joint gas pipeline project with Iran.
Oil Minister Bijan Namdar Zanganeh has said that Iran's gas output has surpassed 70 million cubic meters and is estimated to reach 100 million by year-end.
