National Economy, Natural Gas Reserves & Diplomacy

EghtesadOnline: Iran, with the second largest natural gas reserve in the world, accounts for more than 17% of the known deposits. However, the share of our country in global gas trade is meager.

News ID: ۷۵۲۴۵۴

27 April 2023

Iran, with the second largest natural gas reserve in the world, accounts for more than 17% of the known deposits. However, the share of our country in global gas trade is meager.

At present, converting this valuable underground asset into a productive wealth on the ground is one of the biggest concerns of countries with gas reserves. In other words, by extracting and supplying this product to the world market, foreign exchange revenues needed for large development plans will be provided. Therefore, the process of extracting and supplying such wealth is like liquidating national assets; such a wealth cannot create jobs and increase income as long as it is hidden underground.

Nasser Zakeri, an economist, opened his article published by the Persian daily Shargh with this note. A translation of the text follows:

Undoubtedly, grabbing a share of the global gas market requires preparations and huge investments for completing pipelines and putting equipment in place. The export target country will be willing to cooperate with a supplier that can be relied upon for long-term partnership.