Iran Gas Production Set To Rise While Exports Remain Low

Iran has ambitious gas production plans, aiming to more than double output by 2020, but a surge in export volume looks unlikely. A combination of domestic prioritization and a lack of export capacity, not to mention doubts over the viability of the production plans, means that despite its vast natural gas reserves, Iran is unlikely to become a major exporter any time soon.

Iran estimates that production averaged around 540mn cmd (197 bcm/year) in 2015. Dr Mehran Amir Moeini of the Ministry of Petroleum said the government intends this figure to surge to 725mn cmd (265 bcm/year) in 2016 – an increase of 34%. Speaking at the CECE Iran After the Embargo conference in Antalya on 23 January, Mr Moeini says that the National Iranian Oil Company (NIOC) intends production to have doubled to 1.1bn cmd (402 bcm/year) in 2020. (CONTINUED - 1012 WORDS)