News ID: 321648
Published: 0100 GMT May 16, 2022

Iran’s natural gas output to increase by 45 mcm in year to March

Iran’s natural gas output to increase by 45 mcm in year to March

The National Iranian Gas Company (NIGC) will add around 45 million cubic meters (mcm) per day to the country’s natural gas output in the year to March 2023, said the CEO of the state-run company as he indicated that Iran’s gas supply to Iraq and Turkey may increase in the future.

Majid Chegeni said the NIGC will secure the increased gas output from Phase 11 and Phase 14 of South Pars, the world’s largest gas field that straddles Iran-Qatar maritime border in the Persian Gulf, Press TV reported.

Speaking on the sidelines of a major petroleum event in Tehran, Chegeni said that Iran’s total annual gas output is expected to reach a record of 278 billion cubic meters (bcm) this Iranian year, up from 269 bcm reported in the year to March 20.

He said that Iranian natural gas exports to neighboring Iraq and Turkey increased by 2% over the past Iranian year to reach a total of 17 bcm.

According to the official, gas exports to Iraq increased to 35 mcm per day following recent talks between the two countries on how Iraq will settle previous debts.

The NIGC chief said that Iran had met its contractual obligations regarding gas exports to Turkey over the last Iranian year, adding that total exports to the country reached over nine bcm over the period, up from a minimum of 8.5 bcm stipulated in the export contract.

Chegeni said that both Turkey and Iraq have been negotiating with the NIGC to renew supply contracts that are set to expire in near future.

He added the two neighbors have settled on higher volumes of natural gas imports from Iran in future contracts.

South Pars Gas Field is currently divided into 24 standard phases on the Iranian side and is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s total reserves, and approximately 18 billion barrels of condensate.

The gas field covers an area of 9,700 square kilometers, 3,700 square kilometers of which, called South Pars, are in Iran’s territorial waters; the remaining 6,000 square kilometers, called North Dome, are situated in Qatar’s territorial waters.

 

   
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