World  Business and Economic Analysis 

 

Bulgarian Foreign Minister Daniel Mitov described Iran as one of the most proper and important countries to meet the European Union's needs to gas supplies.

"Iran is among the most important resources to diversify gas resources for the EU," Mitov said in a joint press conference with his Iranian counterpart Mohammad Javad Zarif in Tehran on Monday.

"Bulgaria is the gate of entrance to the EU and Iran can play an important role in the energy sector," he added.

Stressing that during his meetings in Tehran both sides have found important grounds for the development of relations, Mitov said, "We can take steps towards the expansion and deepening of ties through these fields."

Thanks to holding world’s largest gas reservoirs, Iran has announced that it is studying a host of schemes for presence in the international and European gas markets in addition to exporting it to the neighboring countries.

Iranian Oil Minister Bijan Namdar Zanganeh said in November that his ministry is planning to export liquefied natural gas (LNG) to Europe rather than pumping gas via pipelines.

"LNG has a considerable advantage as it can be exported to the most remote parts of the world, but exporting gas via pipelines is limited," Zanganeh said, addressing a press conference in Tehran.

He noted that Iran is constructing an LNG plant with a production capacity of 10 million tons, and said, "(Export of) LNG is Iran’s policy for far-reaching markets; export of pipelined gas has a number of problems and in addition to pipe (laying) for long distances, huge investments also need to be made for transit" of supplies.

Zanganeh reiterated that as soon as sanctions are lifted and the industry’s frozen assets are released, Iran’s LNG project will be back into full operation and Iran can enter the LNG market.

The Iranian oil minister said Iran is planning to supply 10 million tons of LNG, rather than pipelined gas, exports to the international markets in coming years.

 

 

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