Neighboring Countries Iran’s Main Priority for Gas Trade

Charles Ellinas, chief executive of state-owned Cyprus National Hydrocarbon Company (CNHC), said gas exports to neighboring countries will be Iran’s foremost priority following the recent nuclear deal between Tehran and world powers and the upcoming removal of sanctions.

“Europe is not a priority for Iran. The country’s immediate priority [for gas exports] is its domestic market,” Ellinas told Azerbaijan’s Trend News Agency on Friday.

He added that any gas exports will be directed to regional markets, and Europe is a distant prospect.

The oil expert also did not rule out the possibility of Iran’s LNG exports to Europe in the near future, stressing that the country needs investment as well as necessary equipment to that end.

Iran is currently exporting gas to Turkey, Armenia and Azerbaijan. It now produces about 600 million cubic meters of gas per day.

Earlier, Iranian Oil Minister Bijan Namdar Zanganeh said the country aims to nearly double gas production to reach one billion cubic meters (bcm) per day in less than two and a half years.