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Iran plans to boost production and export of gas

Iran dramatically increases gas production and exports after easing Western economic sanctions against Tehran last year.

11.Jul.17 1:54 PM
By Daria Zaytseva


Iran plans to boost production and export of gas

Also, Deputy Oil Minister of the republic said on Tuesday that recent deals with global companies indicate that sanctions are unlikely to return.

Amir Hussein Zamaninia, deputy minister of Iran's oil industry for trade and international affairs, said that gas production in Iran will grow to 1 billion cubic meters per day by the end of the year from the current 800 million cubic meters per day.

He also said that the volume of gas for export should reach 365 cubic meters per day by 2021, which is higher than the exports of the largest liquefied natural gas producer Qatar.

French Total entered into a deal in July in an attempt to help Iran increase its gas production in the giant South Pars gas field, which the country shares with Qatar.

Total will receive a share in 50.1 percent of the field, China's state-owned energy company CNPC - 30 percent, Iranian oil subsidiary Iranian Oil Co Pertopars - 19.9 percent.

This is the first transaction by an international oil and gas company with Iran after the easing of sanctions against Tehran in January 2016.

Zamaninia said at a conference in Istanbul that the contracts had signed the previous week with the Chinese company, Total and the Iranian company, was a very good indication that the return of sanctions was very unlikely, if not impossible.

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