Possible consideration of relaxing US sanctions against Iran as part of current antiterrorism talks ultimately could lead to that country's emergence as one of the world's main exporters of natural gas.
So says Manouchehr Takin, an analyst with the London-based think tank Centre for Global Energy Studies. He told a CGES symposium on Middle Eastern gas prospects last week that Iran is determined to export its gas but may need the help of US companies.
"Gas exports have been agreed as a policy. Iran's gas reserves are more than sufficient for domestic consumption, injection into oil fields, and also for exports for the foreseeable future," Tak- in said. "With the delay in initiating gas export negotiations, other exporters or potential exporters in the region have moved ahead, and new gas discoveries have modified the gas export potential.
"Iran is a newcomer to the Middle East's gas export schemes, and it is facing tough competition from the established exporters. Starting a greenfield LNG project is a challenge."
Takin said the Iranian authorities recognize the need for outside participation and investment.
He said US economic sanctions against Iran, which include the threat of secondary sanctions on non-US companies investing in Iran's hydrocarbon sector, have reduced the potential competition among foreign investors.
He said Iranian reserves total 940 tcf, compared with estimated world reserves of 5,300 tcf, making it the second largest reserves holder after Russia.
Slightly over half of Iran's gas reserves is offshore, and unlike those in most other Middle East countries, 74% is in nonassociated fields.
