Iran and global gas markets

According to studies carried out thus far, annual growth rate for gas consumption in the world has been predicted at an average of about 3.1 percent between 1997 and 2020. The figure will stand at 5.5 percent in developing countries and at 1.2 percent in developed states. Therefore, European countries will be at their best position in 2020 with a gas consumption growth rate of 2 percent while developing Asian nations will registered an annual consumption growth rate of 7.9 percent while the corresponding figure for the Latin American states will stand at 7.5 percent.

Iran has been recognized as one of the most important gas consumption markets in decades to come
Gas consumption growth rate in Iran has increased at an average annual rate of about 7.4 percent between 1990 and 1994 and the figure further rose to about 12 percent between 1994 and 1999.

During five years ending in 2006, average annual growth rate for gas consumption in the country stood at about 10 percent while average annual consumption in the Middle East during the same period stood at about 3 percent. This issue makes investment in developing natural and liquefied gas resources of the country a necessity.

According to current estimates, share of oil in supplying energy to the world will decrease from 41.3 percent in 2000 to 39.2 percent in 2020 while share of gas in supplying energy to the world will increase from 22.6 percent in 2000 to 26.5 percent in 2020.

Iran enjoys about 27 trillion cu. m. of natural gas resources (over 15 percent of global reserves) and, thus, stands high in global gas industry. Since those reserves have been used only for the past 100 years, the country can increase its share of global energy markets by making suitable investments.

Tehran Times