Key facts
- Iran aims to restore 95 million cubic meters of natural gas production by the end of September.
- The repairs are a response to energy infrastructure damage from strikes by Israel and the US.
- Previously, Iran expected to restore approximately 100 million cubic meters per day of gas production capacity in the coming months.
- Strikes since late February had reduced Iran's daily gas output by about 230 million cubic meters.
- Iran's gas production has shown a consistent upward trend since 2011, averaging 5.2% annual growth from 2012-2022.
- The country remains interested in importing gas from Russia to address domestic energy imbalances.
Iran is set to bring 95 million cubic meters of natural gas back into its production cycle by the end of September, according to Oil Minister Mohsen Paknejad. This move comes as the country undertakes repairs on energy infrastructure that has been targeted by Israel and the United States.
In July, a government official indicated that Iran anticipated restoring approximately 100 million cubic meters per day of natural gas production capacity within the upcoming months. This follows a period where strikes, beginning in late February, had reduced daily output by an estimated 230 million cubic meters.
Despite these challenges, Iran's oil minister has stated that the country remains interested in importing gas from Russia to address its energy imbalance. Iran has consistently increased its gas production, with an average annual growth of 5.2% between 2012 and 2022, a rate significantly higher than the global average. This upward trend has persisted since 2011, even amidst Western sanctions.
Discussions regarding Russian gas imports have been ongoing, with Gazprom signing a strategic memorandum with Iran's National Iranian Gas Company (NIGC) in 2024. Initial supplies via existing infrastructure through Azerbaijan were estimated at up to 1.8 billion cubic meters per year, with a potential for up to 55 billion cubic meters annually. Negotiations are nearing completion, with final agreements pending on pricing and payment terms.
Iran's oil minister also affirmed the country's support for global climate change mitigation efforts, emphasizing that industrialized nations bear historical responsibility for current climate issues. He noted that international climate policies allow for the continued role of the oil and gas industry through decarbonization technologies.