BAKU, Azerbaijan, October 22. Iran's annual gas exports are about 20 bcm and imports are zero, Iran's deputy oil minister and executive director of the National Gas Company Saeed Tavakoli said at the 5th international conference on the new technologies in the oil, gas, and petrochemical industries in Tehran on October 22, Trend reports.
According to him, even though the country has a lot of gas production and potential, its exports are quite modest.
Tavakoli noted that the National Gas Company has 21 gas processing plants on its balance sheet, and its gas processing capacity is 1,075,000,000 cubic meters per day. It has 40,680 kilometers of natural gas transmission pipelines. It can store 3.4 bcm of gas per year. Underground storage facilities can extract up to 30 million cubic meters of gas daily.
The official stated that natural gas accounts for 25 percent of the world's gas portfolio. However, this figure represents 70 percent of Iran's gas portfolio. Nevertheless, there is a mismatch between gas production and consumption in the country.
Iran is considered the second-largest gas reserve country in the world, with approximately 34 trillion cubic meters of gas reserves. Presently, 22 gas fields are operating in Iran.
Iran is reportedly producing 1.07 billion cubic meters of rich gas daily from various gas fields.
To note, Iran's state budget plans to export 17 bcm of gas in the next Iranian year (from March 21, 2025, through March 20, 2026).