Six-month gas exports up 125%
Iran's natural gas exports in the first half of the current Iranian year (March 21-September 22) surpassed 2.2 billion, indicating a 125% jump compared to the corresponding period last year, Fars news agency said on Monday, citing data from the Trade Promotion Organization of Iran (TPO).
According to the TPO report, Iran's gas exports also grew by 102% in terms of weight in the same timeframe.
Figures provided by the Oil Ministry show that Iran exported each ton of natural gas at $337 in that period, posting a rise of 11% compared to the opposite figure of last year.
As per the TPO data, Iran's natural gas exports to neighboring Iraq increased by 221% in the first six months of the year versus the same time a year earlier.
Iran currently has three gas export contracts with Turkey, Iraq and Pakistan, to supply them with 10, 20 and eight billion cubic meters per year respectively. However, the gas deal with Pakistan has not been implemented since 2014.
Holding 18 percent of the world's gas reserves and its strategic position in the gas market, Iran can play an important role in the market and sign long-term strategic deals with natural gas customers.
Based on Iran’s so-called Vision 2025, the country should increase its current share of the world gas market from 2% to 8-10%. However, a rampant gas shortage has not created a positive outlook for Iran.