Iran Capable of Becoming Region’s Central Gas Hub

An energy expert said Iran’s potential in the gas sector allows it to become a hub for the region’s gas trade, in case it invests more efforts in penetrating foreign markets and manages to boost its export.

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Nasrollah Seifi, the former CEO of Iran Fuel Conservation Company and National Iranian Gas Export Company, made the statement at a press conference on the International Iran Gas Show (IRGS 2018) in Tehran on Monday.

Sketching Iran’s prominent status in the global gas market, Seifi said Iran owns over 34 trillion cubic meters of gas, holding the largest proven gas reserves across the world.

Moreover, Iran is located in a gas-rich region, which hosts over 60 percent of global gas reserves, he said. Iran’s neighbors of Russia, Qatar and Turkmenistan are the three top holders of gas reserves after Tehran.

Iran has fifteen neighbors who could be clients of Iran gas or transit its gas to major consumers such as China and India, Seifi said.

Bedsides, Iran owns a vast network of gas pipelines of 36,000 kilometers, which could be expanded to 45,000 kilometers to allow for transfering 1,100 million cubic meters per day, he said.

“Despite having such valuable advantages, Iran has a modest share in the global gas trade,” he said.

“In 2016, we managed to produce gas worth up to 3,018 million euros, ranking third in the production of the substance after Russia and the US,” he said.

Despite Iran owns about 18 percent of the world’s total gas reserves and its production accounts for over five percent of the global figure, it’s share in the global gas trade is only one percent.

Seifi said the reason lies in Iran’s weak marketing capabilities, which have prevented the country from dominating markets in the region and beyond.

Iran’s proven gas reserves worth 7 trillion Euros, Seifi said, showing Iran’s gas industry has the potential to play a big role in revitalizing the Iranian economy.

Iran would do well to invest more efforts in boosting its production capacity and export, as the rise of renewable energies could lead to a big fall in the value of the substance, he said.

The expert said Iran neighbors countries such as Pakistan, India, Afghanistan, Azerbaijan, Georgia, Turkey and Iraq could be among top markets for Iran’s gas.

Moreover, Iran could also liquefy its gas and export LNG to countries such as China, India, South Korea and Japan, Seifi said.

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