Iran Liquidates Iranian National Gas Export Company

Iran’s oil ministry has decided to liquidate the Iranian National Gas Export Company (NGEC) as a result of declining sales volume of the company.

Local news agency has reported that onus of gas exports will now lie with other state companies.

Daily gas production in Iran is about 600 million cubic meters, and in future this figure will increase up to 1.2 billion cubic meters, Mehr News Agency said.

At present Iran produces 110 billion cubic meters of gas per year.