Iran’s Oil Ministry said the country needs $19 billion toward “unfinished” natural gas projects and aims to curb consumption amid insufficient funding.
“The maximum funding at hand for the gas sector is currently $3 billion a year,” Oil Minister Masoud Mir-Kazemi said in a gas forum in Tehran today.
“Iran has difficulty in obtaining the required investment to develop natural gas fields and there will be no new production field added in the coming three years,” Mir-Kazemi was quoted as saying, according to a report on the ministry’s official news agency, Shana. “The need to revise the country’s consumption model is ever more necessary.”
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