‘Iran’s daily gas output will reach 1.47 bcm by 2015’

TEHRAN, Nov.9 (MNA) – Iranian Oil Minister Rostam Qasemi stated that Iran’s gas output will reach 1.47 billion cubic meters per day by 2015. The current gas output is 630-650 million cubic meters per day and is projected to reach 1.47 billion cubic meters by 2015, which is the end date of the country’s Fifth Five-Year Development Plan (2010-2015). Iran will try to boost gas production capacity from its joint fields with Qatar and Saudi Arabia, the oil minister told a meeting of the Tehran Chamber of Commerce and Industry on Tuesday. Iran has implemented a crash plan to boost natural gas output at Phase 1 of the South Pars gas field. Iran has the world's second largest natural gas reserves after Russia and is trying to increase its gas production capacity by attracting foreign and domestic investment, especially in the South Pars gas field. The field has 14 trillion cubic meters of natural gas, about eight percent of the world's reserves and more than 18 billion barrels of liquefied natural gas (LNG).