Iran has “humongous” gas reserves of over 33.8 trillion cubic meters, and ready to supply a higher proportion of the global gas demand by increasing its current level of production, said Iranian Petroleum Minister Javad Owji on Thursday, as Russia-Ukraine war disrupts the global supply in the markets.
Speaking during the 27th Baku Energy Forum held in Azerbaijan’s capital Baku, Owji said the world is currently “thirsty for energy.”
“Given our humongous gas reserves of over 33.8 trillion cubic meters, we are prepared to supply a proportion of the gas demand in the world,” Owji said.
Iranian minister also said his country is open to investments in all sectors of the energy industry including transit, transportation and production of energy resources.
He noted that Iran’s potential crude oil production capacity is beyond 4 million barrels per day.
“We are planning for 1.4 billion cubic meters production of natural gas per day within the coming years and bring the country's crude oil production to over 6 million barrels per day,” he said.
Owji said his country is “also planning to enhance the level of export to Turkey given the existing infrastructure and production capacity.”
By Sibel Morrow in Baku