Publication Date:
Fri, 2011-11-11 20:58
Quoting Deputy Oil Minister Mohsen Khojastemehr, Mehr said the estimate had been raised by 900 billion cubic meters to 34 trillion cubic meters due to new discoveries made in the last two years.
Iran boasts the world’s second-largest natural gas reserves after Russia, but sanctions imposed by countries that fear Tehran is seeking nuclear weapons have deterred investment by Western firms, slowing its development as a major exporter according to analysts.
Tehran denied its nuclear program is aimed at making weapons and says it has no need of foreign help to develop its energy resources.
Iran, the world’s fifth biggest oil exporter, says its crude reserves stand at 158 billion barrels.
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