Iran negotiates gas export with UAE, Kuwait

Business Materials 29 August 2016 15:47 (UTC +04:00)

By Fatih Karimov – Trend:

Baku, Azerbaijan, Aug. 29

Iran is negotiating for possible gas export with Persian Gulf states, including the UAE and Kuwait, said Ali Reza Kameli, head of National Iranian Gas Exports Company.

The UAE and Kuwait are going to be new markets for Iranian gas as Tehran seeks to enjoy the advantage of having 15 neighbouring countries, Kameli said, Mehr news agency reported Aug. 29.

Based on Iran's 20-Year Economic Perspective, the Islamic Republic’s gas export should reach 500 million cubic meters per day by 2025, Kameli said, adding that gas export through pipeline to neighbouring countries as well as in LNG form for distant markets is on the agenda.

Iran currently exports gas to Turkey and Armenia and gas export project to Iraq and Pakistan will become operational soon, Kameli said.

Further on, Kameli spoke about the Iran-Oman underwater gas pipeline, saying the project’s studies are still underway.

Iran's proven gas reserve stood at 34 trillion cubic meters as of early 2015, according to BP. The country's share on the world gas market is 17 percent.