Iran says it can match Qatar in natural gas extraction by next year

Iran Materials 5 September 2012 14:17

Azerbaijan, Baku, Sep.5/ Trend F.Milad/

Iran is not lagging so much behind Qatar in the extraction of natural gas from the joint South Pars gas field and will compensate for the delay by next year, the Pars Oil and Gas Company's managing director said.

"Some people say Qatar's gas production is 100 times that of Iran's. This is a weird comment because the world's total gas production is 50 times that of Iran's," the Moj news agency quoted Mousa Souri as saying.

Iran extracts some 285 million cubic meters of natural gas per day from the South Pars gas field, he noted.

Iran's natural gas output will rise by 100 million cubic meters by September 2013, once 11 phases of the South Pars gas field come on stream, Souri said in July.

The output has been increased by 735 million cubic meters since the beginning of the current year, started on March 20, he noted.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.