Daily Management Review

Iran to Become a Major Gas Supplier to the EU


09/14/2015


The main part of the gas will be supplied in the form of LNG through Spain.



AP / Vahid Salemi
AP / Vahid Salemi
According to European authorities, Iran would become a major gas supplier to the EU by the end of the next decade. By 2030, gas supplies from Iran to the EU could reach 25 - 35 billion cu. m per year, which will reduce Europe's dependence on Russian gas. The main part of the gas will be supplied to the EU in the form of LNG through Spain.
 
According to the American newspaper The Wall Street Journal, citing sources in the European Commission, the European authorities estimated that if things carry on, Iran may become one of the main supplier of gas to the EU by the end of the next decade in amount from 25 to 35 billion cu. m. per year. This compares with the current gas supplies from North Africa. Gas supplies from Iran could help the EU reduce its dependence on supplies from Russia - now it exports to Europe 130 billion cubic meters per year. Earlier, in April this year, the head of the National Iranian Gas Company Azizollah Ramezani said that Iran would be able to export in Europe 30 billion cubic meters of gas in five years.

Recall that in July this year ended talks between Iran and the Six of international mediators dedicated to reaching an agreement on the Iranian nuclear program, which were lasting almost 13 years. In particular, Iran has guaranteed exclusively peaceful nature of its nuclear program. The Six, in turn, agreed to cancel all sanctions related to Iran's nuclear program, including measures for access to the spheres of trade, technology, finance and energy. This agreement provides access to Iranian oil and gas to international companies. However, if the agreements are not implemented in practice, sanctions on Iran will continue to operate.

Although the sanctions have not been lifted yet, international companies are increasingly showing interest in the Iranian energy sector. In early September, the European Commissioner for Energy and Climate Miguel Arias Canete held a meeting with representatives of European energy companies, dedicated to the discovery of new opportunities in Iran. The meeting was attended, among others, by companies such as RWE, E.ON, BP, Royal Dutch Shell, Repsol, Total and Statoil.

- We want our companies to come and actively invest ... before the US and China, - the representative of the European Commission. According to sources of the newspaper, it is planned that most of the gas will be supplied in the form of liquefied natural gas (LNG) through Spain, which has significant capacities for LNG imports. This means that the EU would not seek to connect Iran to the project "Southern Gas Corridor", which would bring gas to Europe from Azerbaijan. Instead, there will be developing a system of gas pipelines through which gas will be transported from Spain to other European countries.

source: wsj.com






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