Removal of Sanctions to Make Iran Regional Energy Giant: Afraz Advisers

“Of course, Iran’s position has strengthened after the nuclear agreement, but remember Iran is a more diversified economy (unlike Saudi Arabia), and removal of sanctions will lead to growth in many sectors of the economy. It’s not just oil and gas,” said Mahdi Kazemzadeh in an emailed response to queries sent by The Express Tribune.

Afraz Advisers is the world leader in providing international oil and gas companies with deep insight into the Iranian energy sector.

He further said that Iran is on the cusp of economic boom and it will be turned into an energy giant in the wake of the nuclear accord and then removal of all sanctions, adding that the Persian Gulf littoral states would need to import natural gas in coming years.

Kazemzadeh went on to add that Iran now has the capacity to supply the United Arab Emirates (UAE), Kuwait and Saudi Arabia with gas thanks to its South Pars energy hub.

Discussing the possibility of gas exports to European Union countries, Kazemzadeh said, “I see an enormous potential to revive the Nabucco pipeline project or something similar; I was at a high-level conference in Vienna where many Iranian officials laid out their ambition to export gas to Europe in the next five to ten years.”

“The interesting thing is that the EU commissioner for energy is just as keen as I’d say,” he concluded.

After the conclusion of diplomatic talks between Iran and the six powers on July 14 in Vienna, foreign countries and companies are rushing to rekindle business with the Islamic Republic.

Dubbed the Joint Comprehensive Plan of Action (JCPOA), the deal would subject the parties to comply with a series of commitments, resulting in the termination of sanctions on Iran in exchange for certain restrictions on Tehran’s nuclear program during a defined period of time.

Experts believe that Iran’s economic growth would rise remarkably after the final nuclear deal takes effect.