Iran May Sign New Gas Contracts

Iran plans to sign new gas export contracts in the near future, Trend news agency reported the Iranian oil minister as saying.

The report said that the minister, Rostam Qasemi was confident of starting construction work on Iran-Pakistan and Iran-Iraq gas pipelines. He further said that By the end of the Fifth Five-Year Economic Development Plan (March 2016), Iran’s will produce one billion cubic meters of gas.

Qasemi said in November that 775 million cubic meters (mcm) of gas per day could be extracted from the South Pars field after all its phases come on stream.

Iran is currently producing 300 mcm of gas per day from South Pars.