Archive · 24 Aug 2026
Iran Announces Major Fars Gas Discovery Amid US Economic Pressure
Iran says it found a very large natural-gas field in Fars Province.
The field contains more than 212 billion cubic metres of gas.
Officials believe they can extract more than 160 billion cubic metres.
They say this amount could supply one part of the South Pars gas field for about 15 years.
The gas is called “sweet” because it contains very little hydrogen sulphide.
That could make it cheaper to develop and operate.
The field also has gas condensates that could bring Iran more money.
The discovery was announced while Iran and the United States were arguing over sanctions, oil exports, and stalled negotiations.
Iran announced the discovery of more than 212 billion cubic metres of gas in southern Fars Province.
Officials estimate that more than 160 billion cubic metres could be extracted from the field.
The gas was described as “sweet,” potentially lowering development and operating costs.
The recoverable reserves could supply one phase of the South Pars gas field for about 15 years.
The announcement came amid damaged energy infrastructure, sanctions, and escalating US-Iran tensions.
- Who
- Iran, represented by Petroleum Minister Mohsen Paknejad; Iranian official Mohsen Rezaei and US President Donald Trump also made related statements.
- What
- Iran announced more than 212 billion cubic metres of natural-gas reserves, with over 160 billion cubic metres considered potentially extractable.
- When
- The discovery was announced on Sunday local time; the articles do not provide a specific calendar date.
- Where
- A gas field in southern Fars Province, Iran.
- Why
- Iran said the discovery could support its energy future, while the announcement also came amid infrastructure repairs, sanctions, and escalating economic pressure.
Iran's Position
United States' Position
Economic pressure
Iran's Position
Mohsen Rezaei said Iran could halt all oil exports through the Strait of Hormuz and the Persian Gulf if what he called the economic war continued.
United States' Position
Donald Trump threatened an unprecedented campaign of “Economic Warfare and Isolation” against countries providing Iran with an economic lifeline.
Negotiations
Iran's Position
Iran and the United States had agreed to negotiations under a June memorandum of understanding, but Iran-related reports said talks stalled over implementation and navigation through the Strait of Hormuz.
United States' Position
The articles do not provide a separate detailed US position on the stalled negotiations, but say their future became unclear after an escalation between the countries.
Energy significance
Iran's Position
Mohsen Paknejad said the discovery could be a strong foundation for Iran's energy future and that its development should begin urgently.
United States' Position
The articles do not report a US assessment of the discovery's energy or economic value.
- Total reserves
- More than 212 billion cubic metres, also reported as about 7.5 trillion cubic feet.
- Potentially recoverable gas
- More than 160 billion cubic metres, or about 5.7 trillion cubic feet.
- South Pars comparison
- The recoverable reserves could supply one phase of the South Pars gas field for approximately 15 years.
- Gas quality
- The gas was described as “sweet,” meaning it contains very little hydrogen sulphide.
- Additional resources
- The field also contains significant volumes of gas condensates.
- Development plans
- Iranian authorities said they were taking urgent measures to begin developing the field.
- Diplomatic context
- A June 18 memorandum of understanding between Iran and the United States envisaged negotiations within 60 days, but the talks were reported to have stalled.
