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Iran sees itself as "reliable, secure and long-term" supplier of gas to Europe

16 April 2014 [10:28] - TODAY.AZ
Senior Iranian official says that the country could be a "reliable, secure and long-term" supplier of gas to Europe.

Iranian industry minister Mohammad Reza Nematzadeh made the remarks in an interview to the Germany's business daily Handelsblatt, AFP reported on April 14.

Nematzadeh went on to say that "Iran doesn't want to compete with Russia. But we know that Europe's demand for gas is increasing and would like a share in this."

"We have the energy reserves and cooperation plans. But as far as Russia is concerned, that is a decision for Europe alone," the minister added.

Iran sits on the world's largest natural gas reserves. The country's estimated reserves are around 33.6 trillion cubic meters.

However, the development rate of the country's gas projects is slow, and gas accounts for some 70 percent of Iran's energy consumptions. The country's current level of gas production hardly meets its domestic demands.

According to BP's latest yearly report, Iran's dried gas output is about 160 billion cubic meters, a little more than domestic consumption level.



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