Iran Wll Double Gas Production

Iran's oil minister Ghozam Hossein Nozari told the reporters yesterday the country has "28 TCM (trillion cubic metres) of gas reserves, with planning to increase gas production by the year 2025 to 400 billion cubic metres per year."

Western oil companies have refused to invest in Iran because of the controversy over its nuclear energy programme and Tehran has increasingly turned to Asian companies.

Nozari said there was a need for "massive international and economic cooperation to develop Iran's oil and gas sectors

"Iran can play a major role in meeting the growing need of the world, especially that of Europe for natural gas," he told the Energy Pact conference, organised by energy traders and academics.

Source: AFP

Author: Ksenia Kochneva