Iran Still World’s Top Gas Holder: BP
TEHRAN (Tasnim) - According to the British Petroleum (BP) statistics, Iran still holds the world’s largest proven natural gas reserves, at 33.8 trillion cubic meters.
Based on the BP’s “Statistical Review of World Energy”, published this week, Iran holds 18.2 percent of the world’s total proven reserves, up from 33.6 trillion cubic meters at the end of 2012, when it overtook Russia.
The vast majority of these reserves are undeveloped.
Figures show that despite holding the world’s largest reserves, Iran only accounted for 0.5 percent of global natural gas production, at 166.6 billion cubic meters in 2013.
The Islamic Republic is now seeking to enhance gas production by attracting foreign and domestic investments.
Iran is the third-largest natural gas producer in the world due in part to the development of the giant South Pars field.
South Pars gas field is one of the largest independent gas reservoirs in the world lying on the territorial border between Iran and the Persian Gulf State of Qatar. It is one of the country's main energy resources.
This gas field covers an area of 9700 square kilometers, of which 3700 square kilometers belongs to Iran. The Iranian portion is estimated to contain some 14 TCM of gas reserves and some 18 bn bl of gas condensates. This amounts to roughly 7.5 % of the world gas reserves and approximately half of the Iran’s gas reserves.