NIGC National Iranian Gas : Gas Exports to Europe to Become Economical

Gas Exports to Europe to Become Economical

In case the declining trend in oil prices continues, gas exports to Europe will become economical, director for international affairs of the National Iranian Gas Company (NIGC) said...

In case the declining trend in oil prices continues, gas exports to Europe will become economical, director for international affairs of the National Iranian Gas Company (NIGC) said.

Azizollah Ramezani added that regional countries are Iran's top gas export priorities, Iran's SHANA news agency reported.

Speaking at the global gas market outlook in the light of current challenges session, Ramezani said, 'despite the possession of the world's largest gas reserves, Iran enjoys a small share of gas exports; the country needs to increase its share in the global gas market by taking advantage of the latest technologies.'

The official reiterated that the country will be able to increase gas production merely relying on existing reserves given that the company access the required technologies and investments.

He announced that Iran would also be able to have a share in Europe's gas market asserting 'with the fall in oil prices, gas exports to Europe will be economically justifiable while India and China can mark great markets for the Iranian gas.'

Ramezani also said Russia is exporting gas to Europe via a 3,000-kilometer pipeline, adding Iran can also enter the continent's gas market by laying such a pipeline.

Maintaining that oil and gas respectively consist 40 and 60 percent the country's energy reserves, Ramezani called for more focus on the development of gas industry.