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Iran to emerge as US rival in gas markets

Press TV – July 25, 2016

Forbes in a report has hailed Iran’s success in the development of its gas industry and says the country can soon become a main rival over market access to key players like the United States.

The world’s leading business magazine says Iran owes the progress it has made in its gas industry to its high exploration success rate which it says stands at a whopping 79 percent.

The rate, it says, is specifically high given that the world’s average is only 30 to 35 percent.

The Forbes report further emphasizes that the progress in Iran’s gas industry could soon enable it to exploit the promising markets in India, Pakistan, Kuwait, and UAE.

It adds that the country’s planned reductions in subsidized pricing, which will help reduce wasteful usage, will free up more of its gas for exports.

Forbes further stresses that Iran’s plans to produce liquefied natural gas (LNG) will specifically have a prosperous future.

“Iran is currently working on several options to join the same ‘international LNG club’ that the US is also joining,” wrote Forbes in its report. “And Europe is the mid- and long-term target. Europe’s gas demand is projected to increase 15-20 percent by 2025. This means that Iran is competition for the US”.

The report emphasizes that Iran’s LNG plans are expected to become operational after 2020, adding that the country could benefit from the growing demand over the succeeding years particularly given that Europe’s gas demand, for example, is projected to increase 15-20% by 2025.

July 25, 2016 - Posted by | Economics, Phony Scarcity | , , , , ,

2 Comments »

  1. The Americans will try to prevent their customers from paying in US$, but the US$ is an imaginary currency in any case. For the moment, everyone has to pretend that it has value on pain of being bombed back into the stone age, but the day is coming when reality will assert itself, and the dollar will vanish like the illusion it is.

    Comment by traducteur | July 25, 2016 | Reply

  2. Thus the importance of Syria and the pipelines to the Mediterranean coast that could open the route for Iranian LNG sale directly in Europe.
    Imagine the benefit for Europe cheap Russian and cheap Iranian gas in competition on the European continent – heating and power would cost next to nothing.

    Comment by redracam | July 25, 2016 | Reply


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