Iran’s gas production rate declined to the lowest since 2012

558
Iran's gas production rate declined to a minimum since 2012

Iran’s National Archives’ official statistics showed that since 2017, Iran’s gas production increased by only 2.85 %. It’s the lowest growth rate since 2012. 

Mehdi Jamshidi-Dana, a director of dispatching of the National Iranian Gas Company, announced that production of the commodity last year amounted to 267 billion cubic meters.

Wibest – Oil and Petroleum: Natural gas pipelines and valves.

The Company has stopped publishing monthly reports since May last year. Still, Iran plans to increase to 170 million cubic meters of daily gas production in 2019 by installing six production platforms in South Pars. However, this does not seem to have made any progress.

Gas consumption in Iran has increased 

Jamshidi-Dana says gas consumption in the domestic sector has increased by 9 percent over the past year to 112 billion cubic meters. Meanwhile, industrial use has grown by about 7 percent to 42.5 billion cubic meters.

Regarding the consumption of Iran’s power plants without mentioning the annual changes, 61 billion cubic meters have been delivered to this sector.

Gas consumption in Iranian power plants has declined sharply during 2019. The use of highly polluting fuels such as oil has peaked instead.

The Ministry of Energy has not published the amount of fuel consumption in power plants in its monthly statistics since April last year.

Statistics from 2017 show that gas consumption at power plants was about 68 billion cubic meters. Thus, over the past year, the supply of the commodity to power plants has decreased by more than 10 percent, and the consumption of fuel oil and diesel in power plants has increased by the same amount (at least 6 billion liters).

Iran was supposed to stop consuming diesel in power plants in 2016. However, in 2017 it consumed about 9 billion and 500 million liters of fuel oil and diesel in power plants. This figure has probably increased to about 15 billion liters last year.

Interested in an Islamic Forex Trading Account? Read WiBestBroker’s comprehensive review on Vlom.

Commodity exports and conflicting statistics

Last year, Iran’s gas exports increased by 26 percent to 17.5 billion cubic meters. Iran exports gas to Turkey and Iraq and also purifies a small amount of its gas with Armenian electricity (commodity-to-commodity transactions).

Statistics from January 2019 to January 2020 show that Turkey’s imports of the commodity from Iran have decreased. Iran reduced gas supplies to itself last year, due to Iran’s internal gas shortages. Iran has a contract to export 50 million cubic meters of gas to Iraq daily. Still, the export of Iranian products to its western neighbor is much lower. Throughout the winter, exports have been reduced at least seven times.

  • Support
  • Platform
  • Spreads
  • Trading Instument

For more news updates, visit our homepage now and see our latest news article. Want to learn more about trading? Visit our education page now and learn for FREE!

Tags:

Leave a Reply

Sending