“Oil subsidies during the current FY (to end June 30) amounted to 70 billion EGP, down from an estimated 100 billion EGP in the state budget,” Molla said.
A senior official at the National Iranian Gas Export Company (NIGEC) says Iranian companies are planning to export gas-generated electricity to five neighboring countries.
Heavy investment in LNG facilities over the last 20 years and a vast ramp-up in production has made Qatar the world’s largest LNG exporter, driving the establishment of a global LNG market.
Iran will win again an arbitration case brought by Turkey for reduced gas prices after Ankara’s first attempt was quashed by the International Chamber of Commerce in Switzerland in 2014
Iran said on Sunday that it plans to offer a barter scheme to Turkmenistan through which it would pay for natural gas imports by gas industry equipment as well as technical services.
Iran says it needs $100 billion of investment in its gas industry as updated BP data put the energy superpower’s reserves above those of Russia as the world’s largest.
Two of Tatweer Petroleum’s newest facilities located in the Bahrain Field were officially inaugurated by Energy Minister and company chairman Dr Abdulhussain Mirza.
The Aphrodite natural gas field off Cyprus has been proven to be commercially viable and plans include producing 8bcm a year and construction of a pipeline to Egypt for exporting.