Iran to spend $6.8bn in gas sector
Iran will spend $6.8 billion on development projects in the gas
sector this year, a senior energy official said, Reuters
reported.
Javad Oji, managing director of the National Iranian Gas Co, said on oil ministry website SHANA that the money would be spent on Iran's ninth trans-national gas pipeline, further work on a second gas pipeline to neighboring Turkmenistan, and expansion plans for the Ilam, Jam and Parsian refineries.
The new Iranian year begins on March 21. Analysts say Iran, one of the world's biggest energy producers, needs funds to help modernize and expand its oil and gas sector. International sanctions over its nuclear energy program have hurt its economy and made Western companies wary of investing.
Washington and its allies fear Tehran seeks nuclear weapons, Iran says it is enriching uranium for electricity only.
Iran is also vulnerable to future sanctions that could target its gasoline imports since it does have enough refining capacity to meet domestic needs. Oji said Iran's gas exports over the past year were 6.8 billion cubic metres, an increase of 2 billion cubic metres on the previous year. Turkey is the biggest recipient of Iranian gas. *
Javad Oji, managing director of the National Iranian Gas Co, said on oil ministry website SHANA that the money would be spent on Iran's ninth trans-national gas pipeline, further work on a second gas pipeline to neighboring Turkmenistan, and expansion plans for the Ilam, Jam and Parsian refineries.
The new Iranian year begins on March 21. Analysts say Iran, one of the world's biggest energy producers, needs funds to help modernize and expand its oil and gas sector. International sanctions over its nuclear energy program have hurt its economy and made Western companies wary of investing.
Washington and its allies fear Tehran seeks nuclear weapons, Iran says it is enriching uranium for electricity only.
Iran is also vulnerable to future sanctions that could target its gasoline imports since it does have enough refining capacity to meet domestic needs. Oji said Iran's gas exports over the past year were 6.8 billion cubic metres, an increase of 2 billion cubic metres on the previous year. Turkey is the biggest recipient of Iranian gas. *