BAKU, Azerbaijan, Feb. 8
Trend:
The current contract for gas exports to Turkey is valid until 2026 and the NIGS has begun negotiations to extend it, the Deputy Minister of Petroleum for International and Commercial Affairs of the Islamic Republic of Iran said.
“According to IEF studies, Iran will keep the eighth largest gas producer in the world until 2040, the first largest holder of gas reserves in the world and will be the fifth-highest growth in world gas production,” Amir Hossein Zamani Nia. Deputy Minister of Petroleum for International and Commercial Affairs of the Islamic Republic of Iran said today (Monday) at the opening ceremony of the third specialized conference to introduce investment opportunities in the Qeshm Free Zone in the field of oil, gas, and petrochemicals, Trend reports citing IRNA.
"Increasing oil and gas production and exports of countries such as the United States and Russia is one of the challenges facing Iran's oil and gas industry,” he said.
Zamani Nia mentioned the increase in Qatar gas production and the increase in Iraqi oil production from the joint gas and oil fields as another challenge facing the Iranian oil industry.
“Imposition of illegal US sanctions, the exit of large international oil companies from Iran and Iraq, in addition to increasing the daily oil production capacity of the neighboring country to more than four million barrels per day, increasing Iraq`s oil exports to about three million barrels per day, are among other challenges ahead,” he added.
He mentioned the increase in exports of Saudi petrochemical products and the share of Saudi oil products in India, China, and Indonesia markets as another challenge facing the Iranian oil industry.
He went in to say that Qeshm has the necessary capacity and potential to become one of the centers of production and export of various energy carriers, especially petrochemical products.
According to IRNA, the third specialized conference to introduce investment opportunities of the Qeshm Free Zone in the field of oil, gas, and petrochemicals is held on February 8 and 9.