TEHRAN – Iran’s gas export rose 79 percent in terms of worth, and 10 percent in terms of amount, in 2022, the managing director of National Iranian Gas Company (NIGC) announced.

Majid Chegeni also announced that the country’s gas swap experienced a 530 percent rise in terms of value, and a 358 percent growth in terms of amount, in 2022.

Back in November 2022, an Oilprice.com report stated that Iran has been ramping up its natural gas production with the aim of increasing exports to global markets as the demand in Europe for natural gas is surging ahead of winter.

“Iran last week made it clear that it is ramping up its gas production operations at the supergiant South Pars natural gas field, with a focus on its controversial Phase 11,” the report read.

South Pars gas field, which Iran shares with Qatar in the Persian Gulf water, is divided into 24 standard phases of development in the first stage. Most of the phases are fully operational at the moment.

The huge offshore field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, called North Dome, are situated in Qatar’s territorial waters.

The field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

MA