BAKU, Azerbaijan, May 11. The disparity between gas production and consumption in the country will double in 2031 if no investments are made in Iran's gas sector, the official representative of Iran's Oil Ministry Omid Shakeri said, Trend reports.
He made the statement during the 23rd International Exhibition of Oil, Gas, Refining, and Petrochemicals in Tehran.
According to him, this is the result of research on the country's gas production and consumption. Iran's annual gas production is about 330 bcm.
The official noted that last year (from March 21, 2023, through March 19, 2024), the country's average gas consumption was 325 million cubic meters per day.
“To overcome the discrepancy between Iran's gas production and consumption, about $104 billion of investment needs to be attracted by 2031. This means attracting investments worth $13 billion a year,” he noted.
He said that by attracting investments for the specified amount, the country's gas production would increase by 275 million cubic meters.
To note, Iran is considered the world's second-largest country in terms of gas reserves, with about 34 trillion cubic meters of gas. Iran currently has 22 gas fields in operation. Iran produces 1.07 bcm of rich gas from its gas fields daily.
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