Iran's ex-oil minister: Government should focus on exporting natural gas

Business Materials 11 August 2013 16:59 (UTC +04:00)

Azerbaijan, Baku, Aug.10/ Trend F.Karimov/

The new Iranian administration should focus on exporting natural gas as its trump card in regional and international relations, the Mehr News Agency quoted ex-oil minister Gholamhossein Nozari as saying.

The country should seriously plan to boost natural gas exports to its neighboring countries and even to Europe, he added.

"Considering the intensified international sanctions on the country's oil sector, the priority should be placed on the development of the gas industry as the country seeks a trump card in international diplomatic relations," he said.

Last week, former oil minister Rostam Qasemi said Iran's annual gas exports revenues will reach $20-25 billion in the coming years.

Iran is currently working the detail to finalize the gas export deals with Pakistan and Iraq," the IRNA News Agency quoted Qasemi as saying.

"Currently the development plans of 20 joint oil and gas fields are underway," he said. "Despite the sanctions annually over 20 billion dollars were invested in South Pars gas field in the past two years".

Oil official Javad Owji said on July 21 that Iran gas revenues would reach $8 billion by the end of the Iranian calendar year of 1393 (March 20, 2015).