Prospect of Natural Gas Industry in Iran

Abstract

Iran holds the second largest gas reserves in the word with over 27.5 trillion cubic meters (TCM) of natural gas. Due to lack of geological surveys in certain geographical regions in Iran. It is likely to explore further reserves in the future. Hence, for utilizing this energy carrier, it is essential to have comprehensive and explicit planning knowledge. The study of gas industry development policies is indicative of certain barriers in utilizing prospective opportunities. Iran is one of the largest gas rich countries in the world that production capacity exceeds domestic consumption and gas injection requirements. Gas can be utilized as feed stock in petrochemical plants and refineries or exported through pipeline or LNG. Through reinjection of gas to oil reservoirs, while increasing the oil recovery ratios, the produced gases from fields shared with other countries could be stored into domestic gas fields.