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Iran lost chance to lower energy intensity by 19%

Oil&Gas Materials 17 August 2015 17:22 (UTC +04:00)

Tehran, Iran, August 17

By Mehdi Sepahvand -- Trend:

Iran has lost the chance to lower energy intensity by 19 percent during the years 2010 to 2014, Iranian Energy Conservation Company CEO Nosratollah Seifi said.

According to a national plan, Iran is scheduled to lower its energy intensity by 50 percent by the year 2021.

From 2009 to 2014, Iran lost 3,600 million barrels of oil equivalent energy.

If plans for optimizing energy consumption from 2010 to 1014 had been implemented, Iran should have witnessed a 19 percent reduction in energy intensity, Seifi stated, granting a GDP of 6 percent for the period, Shana news agency reported August 17.

Energy intensity is a measure of the energy efficiency of a nation's economy. It is calculated as units of energy per unit of GDP.

Seifi further said that for a GDP of 6 percent, Iran must reduce energy intensity by five billion barrels of oil equivalent by 2021.

He noted that doing so will require $192 billion investment and will reduce the emission of 1,800 million metric tons of carbon equivalent.

Renovating the Tehran subway, launching subways for eight big cities of Iran, discarding 400 thousand old petrol motorbikes and replacing them with the same number electric bikes are among plans to reduce energy intensity in Iran.

Iran with 1,190 trillion cubic feet of gas, as well as 157 billion barrels of oil reserves ranks second and forth as primary energy holder in the world, but due to huge consumption rates, it is suffering from energy shortage.

Iran's upstream and downstream energy projects have faced long delays, cancellations or slow development due to the withdrawal of giant international companies as well as the lack of technology, financial might and mismanagement during last several years, while the primary energies consumption have grown at a fast pace.

According to the statistics released by Iran Energy Efficiency Organization (IEEO), the country's annual energy consumption growth pace was 3.9 percent from 2005 to 2012.

Edited by CN

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