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Thursday, 16 March 2017

Iran's Natural Gas Rush Won't Bring Export Riches -- For Now - Bloomberg

Iran's Natural Gas Rush Won't Bring Export Riches -- For Now - Bloomberg:

"Iran is on track to out-produce Qatar, the world’s biggest LNG exporter, at the vast natural gas deposit they share in the Persian Gulf. But as much as they might want, the Iranians won’t have much gas to export because they are likely to use most of the new production themselves.

1. How much natural gas does Iran export?

Almost nothing. Iran has 18.2 percent of proven gas reserves, ahead of Russia and Qatar, according to the BP Statistical Review of World Energy. Unlike its competitors, which have built far-flung pipelines and liquefied natural gas plants to reach foreign buyers, Iran exported 8.4 billion cubic meters (300 billion cubic feet) in 2015 while importing 7.5 billion cubic meters the same year. Until recently, it was a net importer, buying or bartering for gas from Turkmenistan and Azerbaijan because its domestic distribution network doesn’t supply the entire country. Iran exports less gas by pipeline than Myanmar or Kazakhstan, which together hold less than 1 percent of global reserves.

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