Iran willing to sell Europe gas, even ‘with no economic justification’

Iran willing to sell Europe gas, even ‘with no economic justification’

Tehran, Iran, November 4

By Mehdi Sepahvand -- Trend:

Iran says it is willing to sell gas to Europe, even if doing so has no economic justification.

"That is due to the fact that we want to use economic relations to create some political cohesion," Deputy Oil Minister in International Affairs Amir Hossein Zamaninia said, Iran's official IRAN newspaper reported November 4.

Currently, Japan, China, and the countries south of the Persian Gulf, except for Qatar, are seeking Iranian gas, he said.

European countries, too, always display interest in buying gas from Iran, he said

"This is while, according to our calculations, Europe is importing more gas than it needs, therefore the price of gas on the continent is lower," noted Zamaninia.

"But we want to have relations, not only with the southern Persian Gulf littoral countries, but with Western countries, as well. When economic relations grow, political disagreements diminish and that reduces the chances of having the sanctions brought back," he added.

Iran is studying possible ways to export gas to Europe, including through the Trans-Anatolian pipelines (TANAP), as well as their operational and economic conditions.

Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters of natural gas reserves, which is about 18 percent of the world's total.

Iran's current raw gas output stands at 660 million cubic meters per day (mcm/d), but it is planning to increase this figure to 1,100 mcm/d by 2019.

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