Iran's Parliament Research Center says its far behind gas targets
Baku, Azerbaijan, Mar.10
By Fatih Karimov - Trend:
The Iranian parliament's (Majlis) research centre has released a report on the performance of the country's oil, gas, and petrochemical sectors for the period between the Iranian year 1382 (March 2003-March 2004) and 1391 (March 2012-March 2013).
Based on the report, Iran should become the world's third largest gas producer by 2025 accounting for eight to 10 per cent of global trade. To this end, the country's gas output should reach 1300 million cubic meters by the end of the Iranian year 1394 (March 2016). In 2004, it was predicted that $70 billion would be needed to materialise the goal, but it will be hardly realised.
Iran's current gas output stands at 575 mcm per day.
According to studies, it is predicted that the annual growth of gas production in Qatar will be 17.6 per cent, so Iran will lose top ranking by 2025. This issue could be alarming for Iran which shares the South Pars gas field with Qatar.
Qatar extracted 430 million cubic meters of gas and 450,000 barrels of oil per day from the South Pars gas field, while Iran is currently extracting 290 million cubic meters of gas from the field and has not succeeded in extracting crude oil from the same area, BP reported.
Edited by S.M.