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    Iran expects 17% Growth in Gas Export Earnings


Iran expects to earn $4bn in gas export revenues in the fiscal year beginning March 21.

by: Dalga Khatinoglu

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Natural Gas & LNG News, Middle East, Premium, Corporate, Exploration & Production, Import/Export, Political, Supply/Demand, News By Country, Iran

Iran expects 17% Growth in Gas Export Earnings

Iran’s government expects to earn $4bn in revenues from gas exports in the next fiscal year beginning March 21, 17% more than in the current year, according to a budget bill the government has submitted to parliament.

Iran’s gas customers are Turkey and Iraq. According to Turkish market regulator Emra, Iran exported 5.16bn m3 gas to the country in the first nine months of 2019, 7% less yr/yr.

It is unclear how much gas Iran has delivered to Iraq this year. But official documents obtained by NGW show that it exported 13.1mn m3/day (4.82bn m3) during the previous fiscal year, rising to 17mn m3/day between March and July of this year.

In the bill, the government also forecasts that domestic gas sales will increase 25% yr/yr to rials 300 trillion in this fiscal year – around $7.14bn at the official US dollar exchange rate and $2.14bn on the open market.

Iran produced about 240bn m3 of marketable gas in 2018, 8% more than in 2017, according to BP’s statistical data. Gross production – which includes gas that is flared and re-injected underground – reached 259bn m3 in the previous fiscal year, according to oil ministry documents. Around 221.5bn m3 was injected into the grid after processing.