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  • 17-08-22

    Iran wastes USD1.5B value of natural gas YoY

    (MENAFN) Chief of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has stated that more than USD1.5 billion value of natural gas is wasted in Iran’s oil and gas sectors yearly, as reported by IRIB.

    On Tuesday, Masoud Khansari stated in a TCCIMA board gathering that “Studies show that 47.5 million cubic meters of gas is wasted in the country’s oil and gas fields every day, and if we consider a price of nine cents for each cubic meter of gas, the total value of the wasted gas is about 1.5 billion dollars every year.”

    “According to a World Bank report, in the years 2012 to 2021, Iran had the first place in terms of natural gas wastage among the world’s oil-rich countries; natural gas waste increased from 11.1 billion cubic meters in 2012 to 17.4 billion cubic meters in 2021,” Khansari stated, noting a latest WB report on world’s energy catastrophe following Russia’s attack on Ukraine.

    He mentioned that the main part of Iran’s wasted gas is associated to the flaring of gases related with oil.

    The official also noted that “I hope that with the measures taken by the Oil Ministry and the expansion of activities to prevent gas flaring, we will see a day when this wastage will reach the lowest possible level and even become zero.”

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