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Page added on September 21, 2014
Iran plans to increase natural gas exports
Iran plans to increase its natural gas exports to 10 billion cubic meters per year, says an Iranian official.
Hassan Montazer Torbati, the planning director of the National Iranian Gas Company, said Saturday that Iran’s annual gas output will increase by up to 100 million cubic meters by March 2015, Shana news agency reported.
The official said the National Iranian Gas Company is preparing the required infrastructure for the export of gas to Iraq, Persian Gulf states and Europe.
Iran, which sits on the world’s largest gas reserves, intends to enhance gas production by increasing foreign and domestic investment, especially in its South Pars gas field.
The field is located in the Persian Gulf on the border between Iran and Qatar.
In early September, Iran launched the largest gas storage facility in the Middle East in the northeastern province of Razavi Khorasan. The facility has a capacity of storing 4.8 billion cubic meters of natural gas.
7 Comments on "Iran plans to increase natural gas exports"
trickydick on Mon, 22nd Sep 2014 12:27 am
If the U.S. is exporting and Iran is exporting, prices will fall? Maybe it is time for one of those CNG cars?
Makati1 on Mon, 22nd Sep 2014 3:38 am
US natural gas only goes Canada and Mexico. A dribble (< 0.2%) leave the country to foreign lands as LNG. The Us cannot affect NG prices anywhere except North America. Never will. Those are 2013 EIA stats BTW.
http://www.eia.gov/dnav/ng/ng_move_expc_s1_a.htm
rockman on Mon, 22nd Sep 2014 11:34 am
Again a reminder: the US is currently a net NG/LNG exporter. The only way we can affect the global NG market is to stop importing it. But given the rather small amount we import it wouldn’t have any meaningful effect.
Northwest Resident on Mon, 22nd Sep 2014 11:43 am
rockman — Didn’t you mean to say the US is currently a net NG/LNG importer (versus exporter)? Just making sure…
synapsid on Mon, 22nd Sep 2014 4:08 pm
NR,
Beat me to it.
Nony on Mon, 22nd Sep 2014 6:53 pm
Rock: wrong. If we are a net importer we can become a net exporter EITHER by importing less or exporting more. Given NA geography, we may export in one area (e.g. Alaska!) and import in another (e.g. Washington State).
Imports of LNG are miniscule (well less than a percent). The only place we import from is Canada (and they lack export terminals also). So basically U.S./Canada (Mexico too) are an isolated market from the world.
Nony on Mon, 22nd Sep 2014 6:55 pm
It is not abnormal to be both an importer AND an exporter. A simple example is Canada. They are a net exporter. But they export in the Rockies and import in Ontario.