MP: Iran could save over $100b in energy sector
A member of Iran’s Parliament on Monday said the country has the opportunity to save more than $100 billion – equaling the value of 3.5 million barrels of crude oil – in the energy sector.
Malek Shariati Niasar, who made the remarks in the opening ceremony of Iran Energy Efficiency Conference (IREEC), added the country’s energy intensity is not appropriate, regretting that the index should have been reduced 50 percent from the beginning of the 5th Economic Development Plan to the end of the 6th Economic Development Plan, Shana reported.
“It will be a big step even if we optimize energy by just 25 percent,” the lawmaker said.
The Member of Parliament’s Energy Committee said 1.7 percent of the figure could be saved in Iran’s gas sector – one-sixth of the global figure on average.
He added 18 billion cubic meters (bcm) of flare gas are burnt in Iran per annum, which is equal to $5 billion worth of energy waste, while the country’s gas exports amount to some $17 billion.
The power plants’ average optimization stands at 39 percent, Shariati Niasar said, adding that the figure in Iran’s 16 gas-fired power plants is less than 25 percent, and estimated at 40 percent in the country’s seven combined cycle power plants.
Given Iran’s geopolitical situation, the country could turn into an energy hub, noted the MP, warning, however, that the opportunity will be missed if energy is not optimized.