Official: Iran wants greater share of global gas market

Oil&Gas Materials 1 October 2012 14:03 (UTC +04:00)

Azerbaijan, Baku, Oct. 1/ Trend M. Moezzi

Expanding Iran's share of the global natural gas market continues to be a priority for the National Iranian Gas Company (NIGC), MojNews reported.

Javad Owji, the NIGC's managing director said the government is pursuing projects to export gas to neighbouring countries and isn't just focused on meeting domestic demand.

Given Iran's enormous reserves of natural gas, it should have a greater share of the world market, Mr. Owji acknowledged.

Iran holds the world's second place in gas reserves and currently has about 134 trillion cubic meters of gas reserves.

The country's total share of the global gas market is made up of 30 million cubic meters of daily gas exported to Turkey. It barters gas and electricity with Armenia and swaps one million cubic meters of gas from the Republic of Azerbaijan to the Autonomous Republic of Nakhchivan.

Projects to export gas to Pakistan and Iraq via pipelines are underway while preliminary talks have been held on transporting gas from Iran to Europe via a pipeline passing through Turkey.