1 week ago

Iran Discovers Major Gas Reserves Amid War and Sanctions

Iran says it found a very large natural gas field in Fars province.

The field contains about 7.5 trillion cubic feet of gas.

Experts estimate that around 5.7 trillion cubic feet could actually be taken out.

If developed, it could produce a lot of gas every day for 15 years.

This is important because Iran’s energy facilities have been damaged during the conflict.

Iranian homes use gas for cooking and heating, and gas also produces most of the country’s electricity.

However, the new field may not begin producing for several years.

Iran also needs more investment and technology to develop it and sell gas abroad.

Key facts

Estimated gas reserves: 7.5 trillion cubic feet
Estimated recoverable gas: About 5.7 trillion cubic feet, based on a 72% recovery rate
Potential production: Around 1 billion cubic feet per day for 15 years
Iran’s proven gas reserves: An estimated 1,200 trillion cubic feet, according to the U.S. Energy Information Administration
Domestic consumption: Iran consumes about 94% of the gas it produces
Largest gas-use sectors: Residential consumption accounts for 41.5%; industry accounts for 36%, according to the International Energy Agency
Electricity generation: About 85% of Iran’s electricity is generated by gas-fired power plants

wionews.com · 1 week ago