Iran to up gas output by 1bcm – official
Tehran, Iran, Oct. 18
The managing director of Iran Gas Engineering and Development Company said the government plans to increase its natural gas production by another one billion cubic meters per day (bcm/d) within three years.
Iran is currently producing 250 billion cubic meters of enriched gas per day, and the country’s production will see another jump of 1 bcm/d in the next three years, reaching 363 bcm/d, Hassan Montazer Torbati said, according to Shana news agency on October 18.
Around 70 percent of Iran’s gas consumption goes to houses and commercial centers, he said, noting that "we have plans to reduce this by 30 percent."
Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to up its gas production by increasing foreign and domestic investments, especially in South Pars.
South Pars Gas & Oil Field is part of a wider gas field that is shared with Qatar. The total field area is 9,700 square kilometers, 3,700 square kilometers of which - South Pars - are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.
The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world's reserves, and more than 18 billion barrels of LNG resources.