Iran may lower CNG price

Business Materials 12 September 2014 14:23 (UTC +04:00)

Baku, Azerbaijan, Sept.12
By Fatih Karimov - Trend:

Iran may lower the CNG price in the near future, according to Managing Director of Iran's Fuel Conservation Organization Nosratollah Seifi.

Seifi said that a specific formula has been created for establishing approximate CNG price, but it has not yet been finalized, Iran's Fars news agency reported on September 12.

Mansour Riyahi, the person in charge of establishing CNG stations in Iran, said on May 6 that the CNG price has decreased from 6,520 rials (about 25 cents) per kilogram to 6,000 rials (about 23 cents) in line with protecting consumers' rights.

Each cubic meter of CNG is sold at 4,500 rials to CNG stations.

Iran's oil minister Bijan Namdar Zanganeh said on August 26 that 87 percent of the country's total population are supplied with natural gas, Iran's Fars news agency reported.
Iran enjoys one of the cleanest fuel baskets in the world, he added.

Natural gas holds a 70 percent share of the country's energy basket, he said, adding that more than 200 CNG stations are operating across the country, supplying about 20 million cubic meters of gas to over 3 million cars per day. This seems to be unique in the world.