Official: Iran Determined to Turn Into Major Energy Supplier to East Asia

TEHRAN (Tasnim) – Iran plans to become a strategic corridor for energy supply to East Asia, a senior Iranian energy official said.

Official: Iran Determined to Turn Into Major Energy Supplier to East Asia

“More than 25 percent of the world’s energy consumption will be in East Asia by 2030,” Managing-Director of Iran Oil Pipeline and Telecommunications Company (IOPTC) Ali Ziar said.

He stated that the infrastructures established for the crude oil and oil products pipeline network as well as rich hydrocarbon reserves and geopolitical and territorial position have placed Iran appropriate position in the Middle East, and notd, “Iran can become a corridor for energy transfer both for producers and for the consumers of oil and gas, given its unique position and its potentials."

“Due to Iran’s experiences and infrastructures constructed for crude oil swap from the Caspian Sea, we hope this activity will reach its maximum capacity with the boosted efforts made by decision-makers in the field.”

In its Statistical Review of World Energy, BP put global proven gas reserves at 187.3 trillion cubic meters as of the end of 2012, which can last for about 56 years at current rates of consumption.

BP’s annual review of energy statistics, first published in 1951, is considered an industry benchmark. Last year’s report put gas reserves at 208.4 trillion cubic meters. The cut of 21 trillion equals roughly seven years of global gas use.

The downgrade helped Iran become the world’s largest gas reserves holder for the first time in decades, with its broadly unchanged reserves of 33.6 trillion.

According to BP estimates, Iran has the third largest crude oil reserves after Venezuela and Saudi Arabia.

 

Most Visited in Economy
Top Economy stories
Top Stories