Iran's major plan on energy consumption to save $1T

Baku, Azerbaijan, Feb. 19 By Khalid Kazimov – Trend: Iranian Deputy Oil Minister Kazem Vaziri Hamaneh has announced the ministry’s nationwide plan to optimize energy consumption in the country, Mehr news agency reported. “To implement the master plan, a $230-billion investment is needed,” he said. By spending $230 billion, not only $1 trillion is saved, job positions for 3.5 million people will also be created, he said explaining the plan. The official said that based on the country’s major policies on domestic consumption Iran has to decrease its energy consumption by amount equal to 6,200 million barrels of oil in next six years. Hamaneh added that the implementation of the plan will also prevent the emission of 2.2 trillion metric tons of carbon compounds and other environment pollutants. He further said that the government has so far presented the parliament with bills covering worth $70 billion of the plan, $30 billion of which will go into 12 fuel consumption optimization projects. The official added that so far bills on $10 billion investment within the plan have been passed by the legislative branch. He did not reveal the time frame during which the mentioned amount of money would be saved. The project will result in performance gains in generators, official, commercial, and residential buildings, public transport and rail sector, the replacement of old cars, electrification of agriculture water wells, and supplying gas to villages and remote areas. However, Iran’s total liquid fuel consumption including diesel oil and fuel oil stood at 5.48 billion liters during the autumn (Sept. 22 to Dec. 21, 2014). The figure indicates an increase by 310 million liters compared to 5.27 billion liters of total diesel oil and fuel oil consumption from the preceding autumn. The Iranian National Oil Products Distribution Company announced on Feb. 10 that it had distributed 71.4 billion liters of oil products domestically 324 days into the current Iranian year (started Mar. 21). Follow us on Twitter @TRENDNewsAgency