TEHRAN - The head of the National Iranian Gas Company (NIGC) Majid Chegeni has officially unveiled the country’s energy and environment optimization market in the Iran Energy Exchange (IRENEX), Shana reported.

Speaking during the unveiling ceremony on Saturday, he said that the launch of the energy optimization market is one of the tools for people's participation in managing the country’s energy consumption.

“Over the past three years, important achievements in the field of gas and energy management were achieved, one of which is the launch of the energy optimization market as one of the tools for people's participation in the energy sector,” he said.

The license to supply 125 million cubic meters of gas in IRENEX has been obtained from the country's Planning and Budget Organization (PBO), and a part of it is being sold in the market today, the official said, noting that the considered ceiling for issuing saving certificates is 10 billion cubic meters.

According to Note 4 of the Budget Law of 1403, the Ministry of Petroleum has been obliged to issue 40 thousand billion rials of energy-saving certificates for optimization projects, he explained.

The deputy oil minister also stated that simultaneously with the release of the first saving certificates, the memorandum of understanding to replace one million low-efficiency heaters with high-efficiency ones will be signed between the Iran Gas Trading Company and a capable domestic company and will be implemented soon.

NIGC will make every effort to use the capacity and capabilities of domestic producers to implement the heater replacement plan, he noted.

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