Iran is "wasting its gas bounty"

Dec 16, 2009 01:00 AM

About 10 mm cm of gas per day from Iran's biggest gas field is being wasted because the country does not have access to the latest technology, local media reports have claimed.
Iran has the world's second largest gas reserves, but international sanctions over Tehran's disputed nuclear programme have slowed its development as a major exporter, by hindering access to modern Western technology.

"About 10 mm cm of gas are being wasted everyday in all plants in South Pars," head of the South Pars Special Economic Zone, Moussa Sourian, was quoted as saying.
"Tens of torches in the plants are burning gas... while advanced countries are using a new technology to refine gas in order to avoid burning it," Sourian said.

Western companies have become increasingly wary of investing in the country due to a long-running international dispute over Tehran's nuclear programme, which the US and its allies suspect is aimed at making bombs. Tehran denies this. But Iran is still drawing interest from Indian, Chinese and other Asian companies seen as less susceptible to international pressures.
A senior gas official said that Iran has boosted its natural gas production by around 10 % during the current Iranian year, which starts on 21 March, and expected the full year production would exceed 165 bn cm.

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