Iranian Energy Minister: Islamic Republic Plans to Invest $80 Billion in Gas Industry
BY: Dr. Hana Saada
ALGIERS- Iranian Energy Minister, Ali Akbar Mehrabian, expressed his anticipation for increased cooperation at the Algeria Summit, especially as his country possesses the world’s second-largest gas reserves.
Mehrabian, speaking at a press conference on the sidelines of the summit, revealed that Iran was among the founding members of the Gas Exporting Countries Forum (GECF) in 2001.
The Iranian minister disclosed that based on Iran’s plans and programs, the country currently produces 1.07 billion cubic meters of gas, with expectations for production to rise to 1.3 billion cubic meters in the next three years.
Additionally, Mehrabian announced Iran’s investment plan in the Iranian gas industry for the next five years, confirming it would amount to $80 billion.
He emphasized that the Islamic Republic of Iran serves as a transit hub in major global routes and can play the role of a close partner and supplier in global energy security.
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