Director of the International Affairs Department at National Iranian Gas Company, Azizollah Ramezani, said that the five-year economic development plan will help Iran retain its potential to export 30bcm/year of gas to Europe between 2016-2021, while another 50bcm/year are to be allocated for exports to the neighboring countries, IRNA reported.

In light of implementing the optimization projects, 120mcm of gas more is expected to be added to the exports capacity.

In related news, in mid June, Iran crude oil exports were reported crossing 3.8mb/d with over 2m barrels being exported to foreign destinations. Iran’s government’s spokesperson, Mohammad Bagher Nobakht, said that Tehran is committed to preserve its share in the global oil market.