Gas

Azerbaijan has been the main exporter of gas to Georgia for many years.

Since 2014. the spot price of LNG has dropped by two-thirds to $5.4 per million British thermal units as supply swelled.

Total LPG imports stands 23 per cent more at 11 million tonnes in fiscal 2016-17.

Almost 40% of Middle East’s gas consumption takes place in Iran.

Gas extraction from the giant South Pars field in the Persian Gulf has exceeded 550 million cubic meters per day.

It is estimated that the complete development of the South Pars phases will guarantee Iran’s energy supply.

Oil shipments from Iran reached a daily average of 2.6 million barrels in fiscal 2016-17.

Each of the phases are currently producing 46 million cubic meters of natural gas.

Iran has already become an exporter of gasoil and will become one in petrol trade in the current year.