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Page added on September 6, 2015
Iran eyes natural gas exports to Europe
Iran is said to be weighing exporting natural gas to European countries through Turkey, its gateway to the continent, following a nuclear deal signed with world powers two months ago that has helped renew economic ties with countries that had imposed international sanctions on Tehran for the better part of the past decade.
Exporting gas to Europe is absolutely on Iran’s agenda, according to Abdolhossein Souri, a deputy head of the National Iranian Gas Company (NIGC), whose comments were cited by the Tasnim news agency.
Souri added that although Iran’s immediate priority was to increase economic cooperation with regional countries — and that Tehran would soon start exporting gas to Iraq and Afghanistan — Europe was also seen as a potential market for natural gas.
Iran is said to have the world’s second-largest natural gas reserves but, following years of punishing sanctions, will require billions of dollars to revive its gas industry, including building pipelines to Europe, and undertake reforms to control domestic demand and rein in heavily subsidized energy prices, according to an August report in the Financial Times.
Iran, according to the report, faces several hurdles in bringing in Europe as a new market, including “a looming oversupply of liquefied natural gas; growing competition from other producer countries; demand weakness in the continent; and infrastructure troubles at home.”
4 Comments on "Iran eyes natural gas exports to Europe"
Makati1 on Sun, 6th Sep 2015 6:40 pm
“Iran eyes natural gas exports to Europe”
Old news…
Boat on Sun, 6th Sep 2015 7:14 pm
Iran, US, Egypt, Israel will all be adding to the market. Asia will love this.
Truth Has A Liberal Bias on Sun, 6th Sep 2015 7:38 pm
As a land bridge between south east and south west Asia Iran is positioned well to export gas in all directions. India consumes about 5 billion cubic feet of NatGas a day and domestic production, well past peak, is currently at about 2.5 bcf. I’m sure India would be happy to consume even more and get off some of its coal powered electricity. Pakistan is in dire need too.
The biggest obstacle Iran faces in getting gas to Europe is the obstacles to pipeline construction, to-wit civil war in Iraq and Syria. To the victor of these conflicts will go the pipeline transit fees. No small prize and doubtlessly what much of the fighting is about.
Makati1 on Sun, 6th Sep 2015 11:34 pm
Boat, very little nat gas will leave the Us on ships. Not with the cheap gas flowing thru pipelines north, south and east on the world island. Less than 1% of Us produced nat gas is shipped as LNG to countries outside North America. Too expensive.