Gas

Volume of Iran’s gas recovery from South Pars stood at 285 million cubic meters in 2013 while the figure has climbed to 540 million cubic meters thanks to implementation of 11 new phases.

China has become the world'.s third largest shale gas producer behind the United States and Canada.

France’s Total signed a deal with Tehran last month to develop phase 11 of South Pars.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

Lithuania follows Poland in receiving its first LNG delivery from the US. reducing Russian energy dependence &. increasing Baltic security.

The US Energy Information Administration (EIA) expects the country’s LNG exports to increase in coming years.

Over the past few years. Iran had been pursuing exporting natural gas to Kuwait. Oman and Iraq.

According to energy industry analysts. the US is expected to become a net exporter of natural gas by next year. largely thanks to the country'.s LNG exports.

The project is in line with the Bulgarian government’s efforts to diversify the current gas delivery routes and sources.

South Asia is emerging as the new hot spot for LNG. with Pakistan and Bangladesh set to join India as major consumers.