IRENEX Can Set Gas Sector Right: CEO

EghtesadOnline: Despite Iran’s significant reserves, we have no role in setting international gas prices.

News ID: ۷۵۲۰۶۹

11 December 2022

Iran has more than 33 trillion cubic meters of proven gas reserves, accounting for 16.6% of the world’s total. This makes it the world’s second biggest after Russia.

For this precise reason it would make economic sense to launch a competitive market for gas trade via the Iran Energy Exchange (IRENEX) and draw on the potential of this market to fund major natural gas projects and gradually transform the country into a gas export hub, the CEO of IRENEX said.

“Despite Iran’s significant reserves, we have no role in setting international gas prices. Moreover, the government has always dictated the price of gas which over the years has undermined the gas sector and its revenues.