An Iranian worker walks at a unit of of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran, November 19, 2015. REUTERS/Raheb Homavandi/TIMA
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Iran is hard at work gaining a foothold in the global energy market, and it's not letting U.S. President Donald Trump's confrontational tone stop it from trying.The country may need as much as $100 billion to develop its gas business, but estimates vary widely. Majors from Royal Dutch Shell to Total agreed to assess oil or gas fields in Iran last year, but no deals have been signed yet. Austria's OMV has said Iran's gas market is "a big opportunity".While Iran has the largest commercial volumes of natural gas in the world, the country is a smaller exporter than Bolivia.Competition from other suppliers is intensifying, European prices have dropped 25 percent in the past five years and Iran consumes almost as much as it pumps.With additional technology, Iran could export as much as 170 million cubic meters of gas a day by 2030, mostly to Mideast countries, according to Siamak Adibi, head of Middle East gas at consultant FGE.Iran needs $70 billion to develop proposed oil and gas projects, and half of that could come through in a "few short months," according to Zamaninia.
FOLLOW THIS ARTICLE