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Iran will see a steep rise in its natural gas output and exports after last year`s easing of Western sanctions. its deputy oil minister said on Tuesday. adding that recent deals with global firms show they believe sanctions will not come back.
Amir Hossein Zamaninia. Iran`s deputy oil minister for trade and international affairs. said Iran`s gas production would rise to 1 billion cubic metres a day by the end of the year from the current 800 million cubic metres (mcm) per day.
He said volumes available for export should reach 365 mcm a day by 2021. which is higher than the exports of the world`s top liquefied natural gas producer Qatar.
France`s Total signed a deal earlier this month to help Iran increase gas output from the giant South Pars gas field. which the country shares with Qatar.
Total will be the operator with a 50.1 percent stake. alongside Chinese state-owned energy company CNPC with 30 percent and National Iranian Oil Co subsidiary Petropars with 19.9 percent.
The deal marked the first by a major global energy company signed with Iran since the easing of sanctions against Tehran in January 2016.
`With the contracts signed last week. with the Chinese company and Total and the Iranian company. that is also a very good indication that the assessment by international oil companies is that the return of sanctions is very unlikely. if not impossible.` Zamaninia told a conference in Istanbul.
