Breakthrough in Nuke talks – Iran’s chance to enter world energy market

Breakthrough in Nuke talks – Iran’s chance to enter world energy market

Baku, Azerbaijan, Oct. 14

By Aygun Badalova - Trend:

Iran, with its huge gas resources and export potential, which so far could not have been fully realized on the international energy market due to its nuclear ambitions, might get a good chance to change the situation.

Iranian president Hassan Rouhani is confident that a win-win agreement in nuclear talks will be reached between the sides.

"There is no doubt in Iran's right to enrich uranium. The whole world has accepted the fact. But we just have disagreements on details," said Rouhani.

Negotiations between Iran and the five permanent UN Security Council members plus Germany over the Iranian nuclear program are being held today in Vienna, and will last until Oct. 16. On October 15, U.S. Secretary of State John Kerry is also expected to attend the negotiations.

The success in nuclear talks would be beneficial not only for Iran, but for the whole world as well, as it could open new perspectives and new period for the world energy market.

Iran has a potential not only to become a major energy player but also to serve as a solid diversification solution to Europe. Iranian gas export potential would be more than sufficient to meet European needs in the long term perspective. And Europe understands it.

"Iran's gas could reach Europe quite easily and politically there is a clear rapprochement between Tehran and the West," a European Commission source involved in developing EU energy strategy recently told Reuters.

Iran is the second-largest proved natural gas reserve holder in the world. Iran holds 18.2% of the world's proved natural gas reserves and more than one-third of OPEC's reserves. The country's proved gas reserves amounted to 33.8 trillion cubic meters by early 2014, according to BP.

Iran produced 166.6 billion cubic meters of gas in 2013 (growth of 4.9 percent) while the consumption in the country amounted to 162.2 billion cubic meters. At the same time Iran imported 4.7 billion cubic meters of gas from Turkmenistan last year.

According to Hassan Torbati, an official with the National Iranian Gas Company, the country exported 9 billion cubic meters of gas in the previous year (ended on March 20). The country's gas export is expected to reach 10 billion cubic meters by the end of the current Iranian calendar year (March 20, 2015).

Reportedly, once Iran's Iran's ninth cross-country pipeline comes on stream, the country's total gas export capacity will be increased by 110 million cubic meters.

European direction of gas export is also of Iran's interest. The country has repeatedly expressed its willingness and readiness to provide European markets with its gas.

Iranian Oil Minister Bijan Namdar Zanganeh even said that Iran is a country capable of exporting large volumes of gas and is always willing to provide gas to Europe.

Iran seeks to export gas to Europe is through Turkish territory, but some other routes are also being studied, according to Iranian Deputy Oil Minister Ali Majedi.

Thus, breakthrough, that might be achieved in nuclear talks, would make Iran closer to its big energy plans. At the same time Europe would get an additional alternative energy supply source to meet its diversification needs.

Iran unveils amount of saved money by major mining companies
Iran unveils amount of saved money by major mining companies
Review of Georgian exports to China
Review of Georgian exports to China
Georgia increases wine exports to Azerbaijan
Georgia increases wine exports to Azerbaijan
Loading Bars
Korean logistics company ULP invited to invest in Kyrgyzstan
Turkey reports over 6,400 new coronavirus cases
Kyrgyzstan's Central Election Commission approves election results
UAE signs deal with U.S. to buy 50 F-35 jets and up to 18 drones
WHO chief congratulates Joe Biden and Kamala Harris on their inauguration
Qatar reports 271 new COVID-19 cases, 148,000 in total
Over 40 dead after migrant boat capsizes off Libya: UN agencies
Joe Biden sworn in as 46th President of the United States
Kazakhstan to develop strategies to ensure financial stability in banking sector
Iran’s FM to visit Azerbaijan
COVID-19 vaccinations in Turkey exceed 1 million in 1st week
CBI Governor says part of Iranian frozen assets released
Georgian Parliament calls Pension Agency Head for transparency
Kyrgyzstan receives COVID-19 diagnostic reagents from Russia
Trump leaves Washington, skips incoming president Biden's inauguration
Blast rocks building in downtown Madrid
Azerbaijan shows footage from Nadirkhanli village of Kalbajar district (PHOTO/VIDEO)
Africa’s COVID-19 death toll tops 80,000, reports WHO
French online newspaper publishes article about January 20 tragedy
Memory of victims of January 20 tragedy honored in Azerbaijan’s Shusha city (VIDEO)
Turkish Foreign Ministry honors memory of Azerbaijani martyrs of January 20, 1990 tragedy in Baku
Turkish Ministry of National Defense talks January 20, 1990 tragedy in Baku
Azerbaijan confirms 897 more COVID-19 recoveries
Iran unveils amount of saved money by major mining companies
Anniversary of January 20 tragedy marked in Azerbaijan's Shusha
Events of Jan.20, 1990 divided life of Baku citizens into "before" and "after"
Kazakhstan bans import of Azerbaijani tomatoes
Review of Georgian exports to China
Azerbaijani troops hold several events in connection with January 20 tragedy (PHOTO/VIDEO)
Georgia increases wine exports to Azerbaijan
Azerbaijan becomes Georgia's second export partner
Kazakhstan reports decrease in mutual trade volume with Vietnam
Geostat reveals data on China's exports to Georgia
Iran reveals COVID-19 data for January 20
Turkey mobilized to support Azerbaijan in post-war period, says ambassador
Uzbek-Korean JV names volume polyethylene output in 2020
Container shipping rates surge in Georgia
Passenger transportation volume by road surges in Kazakhstan
Georgia may lift restrictions on international flights
Georgia sees decrease in electricity consumption
January 20 events of 1990 aimed to strangle Azerbaijan’s fight for independence – historian
Turkmenistan’s Mary State Power Plant names production indicators of 2020
Iran dismisses having any 'secret talks' with Biden's team to bring US back to JCPOA
New geopolitical reality following Karabakh war to make contribution to GDP growth in Azerbaijan - Economy Minister
Iran to commit to JCPOA obligations - if Europe, US return - FM Zarif
Commerzbank deepens partnership with Microsoft
Central Bank reveals volume of property appropriated by Georgian commercial banks
Kazakhstan's Baikonur Cosmodrome starts launching works for 2021
Azerbaijani Kapital Bank’s total assets increase as of 2020
Carnations blooming today along with khari bulbul in Azerbaijan – Turkish FM
Exports of Iran's steel products declines
French ambassador to Azerbaijan talks about January 20 tragedy
Turkmen carpet weaving enterprise reveals production volume
Iran may cancel additional protocol on nuclear deal - Foreign Policy Commission
Azerbaijan keen to develop relations with Turkey, Pakistan in almost all spheres
Azerbaijani people honoring memory of 20 January tragedy victims (PHOTOS)
Caspian Shipping Company’s marine flotilla reveres memory of January 20 martyrs (VIDEO)
Armenians destroyed mausoleum of outstanding Azerbaijani poet in Shusha - monitoring results
Azerbaijan's State Service for Property Issues unveils amount of transfers to state budget
Supply of Indian manufactured vaccines to neighbouring and key partner countries
Azerbaijan progresses with cotton yields in 2020
EU's Michel calls on Biden to form new transatlantic pact
Jewish community in Azerbaijan revere memory of victims of January 20 tragedy
India to gift 2 mn doses of Covid-19 vaccine 'Covishield' to Bangladesh
India, Japan sign Memorandum of Cooperation to help promote movement of skilled workers
Georgia reports 469 new COVID-19 cases for Jan.20
UK ambassador to Azerbaijan makes statement on January 20 tragedy
Benefits provided for Uzbek entrepreneurs likely to be extended
Share of domestic exports up in Georgia
Azerbaijan discloses number of mandatory health insurance services in 2020
Azerbaijani president, first lady visit Alley of Martyrs on 31st anniversary of 20 January tragedy (PHOTO)
India, Oman Hold Discussions On Bilateral Cooperation
Turkmenistan's Turkmengas to buy chemical products via tender
Uzbekistan, Turkey to work on approving agreement on preferential trade
Azerbaijan’s Kapital Bank reveals 2020 net profit
EU Delegation mourning victims of “Black January” tragedy - statement
Copper ores and concentrates top export goods in Georgia
Azerbaijan holds minute of silence to honor January 20 victims (PHOTOVIDEO)
Modi gets SOS message for vaccine from Caribbean nation that stood by India
Black January means symbol of struggle for independence - Charged ’Affairs of Azerbaijani Embassy in Ethiopia
Iran’s South Pars Gas Company beats new record on export
First Vice- President Mehriban Aliyeva shares Instagram post on 20 January tragedy (PHOTO)
Uzbekistan’s Central Bank to place bonds on republican currency exchange
Georgia sees decrease in external merchandise trade
Turkmenistan's Mary region opens tender for construction
Turkmenistan signs contract for aircraft purchase from French Airbus
UK inflation rises a little more than expected in December
Largest share of mortgage loans falls on Uzbekistan’s Samarkand region
Article on Black January tragedy of Azerbaijani Consul General in LA published
EU4Business supports expansion of Georgia’s biggest digital creative agency to global markets
Кazakh Electricity Grid Operating Company to buy construction materials via tender
Azerbaijani oil prices continue to grow
Phased COVID-19 vaccination continues in Azerbaijan - Ministry of Health
Kazakh Embassy extends condolences to Azerbaijan on 20 January tragedy's anniversary
Number of Uzbek banks raise dollar rate
EBRD names loans volume provided for Uzbekistan during COVID-19
EBRD, State Electricity System of Georgia implement new energy project
Uzbekistan names start date for vaccination against COVID-19
Azerbaijani Ministry of Agriculture holds meeting on results of cotton growing dev't (PHOTO)
Azerbaijani company reveals growth in 2020 total insurance revenues
All news