In the great upheaval of strategic alliances created by the war in Ukraine unleashed by Russia, Iran intends to play its card. While the country subject to a sanctions regime by the United States since Donald Trump denounced the Iranian nuclear agreement in 2018, the Islamic republic intends to return to the game of gas exports. And to present itself as an alternative to the Europeans who seek to cut off deliveries from its former first energy partner, Russia. Therefore, Iran is studying the possibility of exporting gas to Europe, said Sunday an official of the Ministry of Petroleum.
“Iran is studying this subject but we haven’t come to a conclusion yet,” Deputy Oil Minister Majid Chegeni was quoted by the ministry’s official Shana news agency as saying.
“Iran is always seeking to develop energy diplomacy and expand the market,” he added.
The beginnings of a thinly veiled commercial approach, while theThe country’s energy industries, which have some of the largest proven gas reserves in the world, are hit by US sanctions and have had their nuclear program framed.
On gas, Iran produced 250.8 billion m3 in 2020, according to the BP Statistical Review of world energy 2021which places it in third place in the world of gas-producing countries, after the United States and Russia.
And since Russia’s invasion of Ukraine on February 24, oil and gas prices have skyrocketed.
The situation escalated on Wednesday when kyiv said Russia had halted gas deliveries through a key transit hub in eastern Ukraine. Last year, the EU received about 155 billion cubic meters of Russian gas, or 45% of its imports of this fossil fuel.
But Iran’s return to the oil and gas markets would only partially offset European imports of Russian hydrocarbons
“Iran could be another substantial additional source of supply (oil) if the sanctions are lifted, but its return to the market would not be immediate”further indicate the experts of the International Energy Agency (IEA).
Especially since most of its production is used for local consumption. The country is not immune to inflation and the scarcity of certain foodstuffs, caused by the war in Ukraine. Hundreds of people descended on several cities to demonstrate against the authorities’ decision to raise the prices of basic foodstuffs, the official Irna news agency reported on Friday.
Most of Iran’s gas comes from a huge offshore gas field, South Pars, located in the Persian Gulf. Even if the sanctions are lifted, Iran will therefore not be able to provide an alternative, if not a marginal one, to Russian exports to Europe.
Finally, Iran is in full renegotiation of the agreement on the supervision of its nuclear program with the West. The negotiations launched a year ago in Vienna between Tehran and the major powers aim to save the 2015 text supposed to frame the Iranian program, moribund since the unilateral withdrawal in 2018 of the United States which reimposed stifling sanctions on Iranleading in response to its gradual disengagement from the agreement.
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