TEHRAN, Iran, September 12. Iran has the capacity to increase its gas production, the secretary of the Federation of Iran's energy exports and related industries Hamidreza Salehi told Trend.
Lack of investment in gas fields, especially in Iran and Qatar's shared gas fields has led to declining in production on Iran's side, he said adding that Iran’s gas output might reduce from 800 million cubic meters to 300 million cubic meters if the investment issue persists.
Iran and Qatar share the South Pars gas field (known as the North Dome field on the Qatari side), which is the world's largest natural gas field.
The country produces 950 million cubic meters of gas per day and has the capacity to export 10 percent of its output (about 50 million cubic meters) to Europe but the export volume is not considerable due to sanctions, he noted.
He indicated that the possible agreement in the nuclear 2015 deal and removal of sanctions would enable the country to attract foreign investment to improve its gas infrastructures and output.
Iran’s gas shortage last winter was caused by a lack of balance in supply and demand, he said pointing out that by exporting ten percent of gas production to Europe Iran can restore the balance in consumption. According to the official, Iran could use the export revenue to invest in its gas fields and projects, improve gas pressure in South Pars Gas fields and raise production.