Tehran (IP) - Oil Minister said on Tuesday Iran enjoys the high capability to provide neighboring and European countries with their needed gas.

Iran PressIran news: Javad Owji said, "During the Sixth Summit of Heads of States and Government of the Gas Exporting Countries Forum (GECF), we frequently announced Iran’s necessary capacity to provide neighboring and European countries with their needed." 

Despite high domestic gas consumption and exports, many of our gas fields have remained untapped, and some good discoveries have also been made in recent years, Owji said in an interview with IRIB TV1.

On the Memorandum of Understanding (MoU) signed to develop oil and gas fields, reconstruct oil and gas refineries, and export technical and engineering services, he said more agreements will be signed with other members of the Gas Exporting Countries Forum today.

Given Iran’s high potential in human resources, fortunately, we enjoy experiences in exploration, production, refining, and transporting oil byproducts in the global oil industry, he added.

During the Sixth GECF Summit, we repeatedly announced that Iran has the necessary capacity to supply neighboring and European countries’ gas demand, and we hope to be able to boost our two percent share in gas trade in the coming years.

Referring to the recent gas swap deal between Iran, Azerbaijan, and Turkmenistan, Owji said, “as Iran has 313,000 kilometers of the gas transmission network, it is currently ready to swap gas with neighboring countries from East to West and from North to South, and vice versa.”