Official: Iran Eying Greater Role in Global Gas Market
TEHRAN (Tasnim) – Iran is seeking to have a greater say in the global gas market as it has devised plans to boost its exports, Head of National Iranian Gas Company Reza Araqi said.
“As the world’s biggest holder of natural gas reserves, the Islamic Republic of Iran has defined several scenarios for exporting and boosting its presence in international gas markets,” Araqi said.
He said Iran has prioritized boosting its natural gas exports for next five-year development plan (2016-2021), adding that the plan urges greater role for Iran in global gas market.
He told Shana that Iran also plan to increase the volume of its processed natural gas to 330 billion cubic meters by the next 2 years.
His comment came as Iran will host the third summit meeting of the Gas Exporting Countries Forum (GECF) on November 20-23.
Previous GECF gas summits were held in Qatar in 2011 and in Moscow in 2013.
GECF members account for 42 percent of global gas output, 70 percent of global gas reserves, 40 percent of pipe gas transmission, and 65 percent of global trade of Liquefied Natural Gas (LNG).