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Publish date26 May 2013 - 10:21
Story Code : 131782

Iran's gas income to rise by $18b, says official

Iranian's gas export income will total $12-18b, in case all of its agreements with other countries are put into practice, said Managing Director of the National Iranian Gas Company (NIGC) Javad Oji.
Iran

"Iran's income will hit $12-18b, if the country exports 100 million cubic meters of gas daily," he told ISNA.

Oji noted Iran needs more pipelines, refineries and facilities for the export of 20-30 billion cubic meters of gas annually.

The Iranian Deputy Oil Minister also noted that the country is now pumping gas to Turkey and will send it to Iraq and Pakistan soon. According to Oji, Iran and the Persian Gulf countries are in talks to purchase Iran's gas.

Last month, Oji announced that "Iran plans to increase the volume of its gas supplies to the neighboring countries to 100 million cubic meters per day (mcm/d) in 2014".


"By signing new deals to export gas to Turkey and Iraq, the capacity of Iran's gas exports will increase from 35 mcm/d to nearly 100 mcm/d next year," Oji said.


He noted the gas exports to neighboring countries have not been halted even for a day during last year.


Last year, Oji announced that Iran's gas exports will reach 180 mcm/d in the next four years.


Iran, which sits on the world's second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing investments in the energy sector.


The Islamic Republic has 137.6 billion barrels of proven oil reserves, and 29.61 trillion cubic meters of proven gas reserves.


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