Iran’s 4-month gas sales revenues exceed yearly total: Minister

Speaking to reporters after a Cabinet session on Wednesday, Owji said that Iran had collected around $4 billion in gas exports revenues in the first four months of the Iranian year 1400 (March 21 to July 21).

“That was equal to the entire gas exports (revenues) in the year 1400,” said Owji.

The announcement comes as Iran’s sales of energy are still subject to a harsh regime of American sanctions that were enacted in 2018 with the aim of pressuring Tehran into a series of nuclear and defense concessions.

Since becoming oil minister under an administration that took office in August last year, Owji has touted Iran’s success in circumventing US sanctions by exporting increased volumes of oil and gas.

Oil Ministry and government authorities have also defended their records in repatriating funds from energy exports that took place before Washington imposed its unilateral sanctions on Iran.

Owji said in June that Iraq had paid back $1.6 billion worth of its gas imports debt to Iran, allowing the National Iranian Gas Company to resume high-volume gas exports to the Arab country six months after supplies were cut because of the arrears.

He said on Wednesday that payments reached Iran for exports of oil, gas and condensates over the four months to late July had increased by 55% compared with the same period last year.

Iran is a main supplier of natural gas to Turkey and Iraq while it is involved in a gas swap deal with Turkmenistan for delivery to Azerbaijan.