Iran Determined to Increase Clout in Europe, Iraq

Iran commits to increase its clout on international gas markets, expecting exports to Iraq by April 2015 and imminent investments to strengthen ties with Europe. Teheran said it could export up to 30 bcm of gas per year to the Old Continent.

“The studies conducted by the European Parliament indicate that Iran has potential to export 25 to 30 bcm of gas a year to Europe,” Azizollah Ramezani, director of international affairs at National Iranian Gas Company (NIGC). 

According to Ramezani’s statement on Tuesday, Iran is stepping up cooperation with Turkmenistan and Azerbaijan to find a route to export gas to Europe. 

“Iran currently holds 1.5% of the global gas trade and this figure must rise to 10% by 2025.”

Teheran is also interested in stepping up business ties in the region.

‘Iran will start exporting 4 million cubic meters (MMcm/d) of its natural gas per day to Iraq by April 2015 which will increase gradually’ reads a separate note released on the website of National Iranian Gas Company (NIGC), announcing that Iran’s gas trade balance turned positive in 2014. 

Meanwhile, Turkey and Iraq agreed on a natural gas pipeline project, hinting at an increased attention for gas projects in the region. According to Turkish Energy Minister Taner Yıldız, Ankara will then sell Iraqi gas to "the rest of the world."