Baku, Azerbaijan, Dec. 16
By Fatih Karimov - Trend: Iran plans to boost gas production to 1.2 billion cubic meters per day.
Hadi Hashemzadeh, an official with the National Iranian Gas Company said the country's gas refining capacity is projected to double over the course of three years, Iran's Mehr news agency reported Dec. 16.
In November, the Managing Director of National Iranian Gas Company Hamidreza Araqi said that the country's total gas production will reach 330 billion cubic meters in the Iranian calendar year of 1396 (to start on March 21, 2018).
"Some $62 billion is required to construct necessary infrastructure," he said.
Deputy Oil Minister Emad Hosseini said on Nov. 22 that five phases of giant South Pars gas field will start production by the end of the current Iranian calendar year (March 20, 2015).
Hosseini said that phases 12, 15, 16, 17 and 18 will most likely come on stream by the end of January 2015.
"Once the phases come on stream, Iran's gas output will be increased by 120 million cubic meters per day," he said.
Iran holds 18 percent of the world's proven natural gas reserves, equal to 33.6 trillion cubic meters. The country produced 485 million cubic meters of natural gas in 2013. Iran's gas output has increased by 75 million cubic meters during the current year and stood at 560 million cubic meters
Edited by CN