Iran’s needs $62 billion for gas industry
The Managing Director of National Iranian Gas Company, Hamidreza
Araqi, said that some $62 billion should be invested in the
country's gas industry in the next five years.
He said Tehran needs to annually invest $10 billion in
pipeline-laying in the next four years, Fars News Agency
reported.
"There are many potential buyers for Iranian gas, so we need to
provide the necessary infrastructure to boost gas exports," he
added.
Araqi went on to note that currently 63 million Iranians have
access to gas.
"The figure should reach 71 million or 94 percent of the country's
total population by the end of the Iranian calendar year of 1396
(March 20, 20180," NIGC head noted.
Iran is the second-largest proved natural gas reserve holder in the
world.
According to Oil & Gas Journal, as of January 2014, Iran's
estimated proved natural gas reserves were 1,193 trillion cubic
feet, second only to Russia.
Iran holds 17% of the world's proved natural gas reserves and more
than one-third of OPEC's reserves. Iran has a high success rate of
natural gas exploration, in terms of wildcat drilling, which is
estimated at 79% compared to the world average success rate of 30%
to 35%, according to FGE.
According to BP's latest yearly report, Iran's dried gas output is
about 160 bcm, a little more than domestic consumption level.
Iran exported 7.5 bcm of gas to Turkey and imported 4.5 bcm gas
from Turkmenistan in 2012, according to BP's report.