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Iran Eyes 1 bcm Gas Supply by 2021

 Iran Eyes 1 bcm Gas Supply by 2021

Sunday، 21 October 2018 | Article Rating

TEHRAN (Shana) -- A senior Iranian gas official said the country was planning to bring its natural gas production capacity to a billion cubic meters per day by 2021.

 

Managing Director of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati said the supply of one billion cubic meters per day of natural gas by National Iranian Gas Company (NIGC) was one of the goals of the company by 2021.

In an address at a panel on the second day of the 4th Iranian Petroleum and Energy Club Congress & Exhibition in Tehran on Wednesday, the official said, “Today, the amount of rich gas produced in Iran is 250 billion cubic meters per year, which should increase to 363 billion cubic meters by the [calendar] year of 1400.” The Iranian calendar year begins on March 21.

He added: "For the time being, 230 billion cubic meters of gas is injected in the gas transmission network annually, which will increase to 340 billion cubic meters by the year 1400."

The official, emphasizing that 70 percent of the country's energy mix depended on natural gas, said a large part of gas consumption was related to the household and commercial sectors which could be reduced by 30 percent.

He added that Pakistan, Kuwait, Oman, Turkey, Armenia, Nakhichevan, Iraq, Afghanistan and the Kurdistan region, as well as converting gas to power for exports, were among Iran’s gas export goals for the 1400 horizon.

Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

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