Iran's NIGC Looking to Boost Gas Processing Capacity to 330 bcm in Three Years

National Iranian Gas Company (NIGC) is looking to boost its annual gas processing, transfer and distribution capacity to 330 billion cubic meters (bcm) in next three years, company’s Chief Executive Hamid Reza Araqi said.

Araqi said developing infrastructure was vital to achieve the goal of daily and annual gas sales of 1bcm and 330bcm respectively, Iran’s Fars News Agency reported.   

In order to achieve the goal, the number of NIGC subsidiaries should rise to 19 from 13, gas pressure stations should increase to 90 from 71 and the gas transfer network should reach 40 thousand kilometers from the current 35 thousand kilometers, the NIGC chief executive added.

According to Araqi, investment of almost $62bn is needed to achieve the aforementioned goals.

Iran holds 17% of the world's proved natural gas reserves. Country's largest gas field is South Pars located offshore in the middle of the Persian Gulf.