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Iran’s annual gas export revenues to hit $10 billion

Oil&Gas Materials 13 May 2013 12:17 (UTC +04:00)

Azerbaijan, Baku, May.13/ Trend F.Karimov/

Iran's gas export revenues will hit $10 billion in the next Iranian calendar year which starts March 21, 2014, the Mehr News Agency quoted National Iranian Gas Company Managing Director Javad Owji as saying.

The volume of gas exports will increase to 100 million cubic meters per day he said, adding that the volume of exports will be increased 40-45 million cubic meters.

Iran currently earns $3.5-4 billion through exporting natural gas to Turkey, he noted.

On April 19, IRNA quoted Owji as saying that Iran exported 8.4 billion cubic meters of natural gas worth $3.5 billion in the past Iranian calendar year.

He also said that the country imported 4.5 billion cubic meters of gas worth $1.8 billion last year which ended on March 20.

Gas imports dropped by 50 per cent year on year, he noted.

Earlier this month, Owji said that Iran plans to increase its natural gas exports as a way to diminish its reliance on crude sales.

Iran will "witness a change in the revenues of the country from crude oil to natural gas," Owji said. He didn't specify how much Iran earns from oil and gas sales separately and pointed to the country's goal to triple gas shipments to some of its neighbours.

"By signing new deals with Turkey and Iraq, Iran will increase its natural gas exports to about 100 million cubic meters by next year from a current 35 million," Owji said. Iran's gas exports total 10 billion cubic meters per year, he said.

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