Iran’s annual gas output to reach 1.4 billion cubic meters in 3 years

Oil&Gas Materials 30 December 2012 16:32 (UTC +04:00)

Azerbaijan, Baku, Dec.30/ Trend F.Milad‎‏

Iranian oil minister said a two-fold increase is expected in the country's gas production capacity in three years.

The IRNA News Agency quoted Rostam Qasemi as saying that the country's daily gas output will reach 1.4 billion cubic meters in the next three years.

The minister made the remarks at the sidelines of gas project inauguration in Northern Province of Mazandaran.

Iran currently produces 550-600 million cubic meters of gas per day.

According to Qasemi, Tehran plans to increase its oil and gas exports to neighboring countries.

Dispatching Director of National Iranian Gas Company, Hassan Montazer Torbati, said earlier this month that Iran has produced 120 billion cubic meters of natural gas from the beginning of the current Iranian calendar year.

The Iranian oil minister announced on December 14 that Iran plans to sign some new gas export contracts in near future.

Iran owns the world's second largest natural gas reserves after Russia.