Iran has prioritized gas exports to neighbor countries and India. “Europe is not Iran’s option for gas export in mid-term, because it has been oversupplied,” Amir Hossein Zamani-Nia, Iran’s Deputy of Oil and Minister for International Affairs and Commerce, said, according to Trend.

“Iran would increase gas output to 1bcm/d by the end of current fiscal year, and,  based on 6th National Development Plan (2017-2022), the country should export 80bcm/y of gas, of which 50bcm/y is projected to be delivered to neighbors. The remained surplus gas, 30bcm/y, can be exported to Europe in long-term.”, Zamani-Nia added.

According to Zamani-Nia, gas export capacity is scheduled to reach 80bcm/y by 2022, some 50bcm of which should go to regional markets, Financial Tribune informed.

It worth noting that Iran pumps more than 820mcm of gas from all its fields, but much of the output is locally consumed. In addition, Iran currently has agreements with many countries including Turkey, Pakistan, Iraq and Oman to supply around 46bcm/y of gas to these countries.