Iran’s gas sector is once again feeling the winter blues as residential demand for heating picks up amid falling temperatures. Unlike other Gulf countries, Iran’s gas demand peaks in the cold winter months as Iranians switch on the heating. The gap between peak winter demand and off-season lows is huge, standing at around 7.8bn cfd, and Iran is expanding its gas storage capabilities in order to manage seasonal demand swings.
Oil Minister Javad Owji said on 29 November that storage levels had reached 3.1bcm, however this is barely 1% of last year’s total demand of 245bcm, and accounts for less than four days of demand at last year’s peak level of 850mn m3/d (30bn cfd). Demand peaks in the cold winter months, before gradually falling and bottoming out in autumn when there is little use of either heating or air conditioning. (CONTINUED - 1480 WORDS)
