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Iran Press TV

Iran's natural gas output to increase by 45 mcm in year to March

Iran Press TV

Sunday, 15 May 2022 6:36 PM

The National Iranian Gas Company (NIGC) will add around 45 million cubic meters (mcm) per day to the country's natural gas output in the year to March 2023, says the CEO of the state-run company as he indicates that Iran's gas supply to Iraq and Turkey may increase in the future. .

Majid Chegeni said on Sunday that the NIGC will secure the increased gas output from Phase 11 and Phase 14 of South Pars, the world's largest gas field that straddles Iran-Qatar maritime border in the Persian Gulf.

Speaking on the sidelines of a major petroleum event in Tehran, Chegeni said that Iran's total annual gas output is expected to reach a record of 278 billion cubic meters (bcm) this calendar year, up from 269 bcm reported in the year to March this year.

He said that Iranian natural gas exports to neighboring Iraq and Turkey increased by 2% over the past calendar year to reach a total of 17 bcm.

The official said gas exports to Iraq had increased to 35 mcm per day following recent talks between the two countries on how Iraq will settle previous debts.

The NIGC chief said that Iran had met its contractual obligations regarding gas exports to Turkey over the last calendar year, adding that total exports to the country reached over 9 bcm over the period, up from a minimum of 8.5 bcm stipulated in the export contract.

Chegeni said that both Turkey and Iraq have been negotiating with the NIGC to renew supply contracts that are set to expire in the near future.

He added the two neighbors have asked for higher volumes of natural gas imports from Iran in future contracts.

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