Islamic Invitation Turkey
       25 October 2016 - Tuesday - 23 Mu?arram 1438 | 25/10/2016 (46) 24/10/2016 (54) 23/10/2016 (50) 22/10/2016 (49) 21/10/2016 (49) Total: 115,876 content        Facebook Twitter Youtube

Iran Targets 330bcm/y Gas Output by 2017

19 November 2015 7:02


Iran is planning to boost its processed natural gas output to nearly 330 billion cubic meters a year by the next two years, head of National Iranian Gas Company (NIGC) said.

“The Islamic Republic of Iran, as the world’s biggest holder of natural gas reserves, has defined several scenarios for exporting and boosting its presence in international gas markets,” Hamid-Reza Araqi told Shana.

He said Iran has prioritized boosting its natural gas exports in its 6th five-year development plan (2016-2021).

Araqi said boosting Iran’s presence in international gas markets is primarily focused upon by the plan.

He further underlined GECF as a forum for making policies, exchanging information and data about the gas industry by the body’s members, adding that the forum does not decide about pricing of gas in the market.

GECF members account for 42 percent of global gas output, 70 percent of global gas reserves, 40 percent of pipe gas transmission, and 65 percent of global trade of Liquefied Natural Gas (LNG).

GECF consists of 17 main and observer members with its permanent secretariat positioned in Doha, Qatar.

Russia, Iran, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, and the United Arab Emirates, are main members of the gas exporting body. Observer countries are the Netherlands, Iraq, Oman, Peru and Norway.

The third summit meeting of the Gas Exporting Countries Forum (GECF) will be held in Tehran on November 20-23. Previous GECF gas summits were held in Qatar in 2011 and in Moscow in 2013.

Scroll Up