Iran eyes exporting 30 bcm of gas per year to Europe by 2021

Oil&Gas Materials 25 July 2016 13:11 (UTC +04:00)

Baku, Azerbaijan, July 25

By Khalid Kazimov – Trend:

Iran will be capable of exporting 30 billion cubic meters of gas per year (bcm) to Europe by 2021, an Iranian gas official said.

Azizollah Ramezani, the National Iranian Gas Company (NIGC) director for international affairs, has said that the country plans to export 68-80 bcm of gas per year by 2021, Fars news agency reported.

The official added that 50 bcm of gas per year out of the aforementioned 80 bcm of gas will be exported to the regional countries.

According to OPEC's annual statistics, Iran exported and imported 9 bcm and 8.4 bcm of gas in 2015 respectively.

On the same day, Hamidreza Araqi, head of National Iranian Gas Company, voiced plans to increase the country’s gas output to 385 bcm per year by 2021. While the household sector will consume 100 bcm of the total amount, 85 bcm will account for power plants. He said that there would be an opportunity for exporting 68-80 bcm of gas per day by 2021.

The country’s current gas output stands at 268 bcm of gas per year, of which about 11 bcm are flared.