Iran projects natural gas consumption to rise by 100 mcm

(MENAFN) Iran's natural gas consumption is projected to rise by 100 million cubic meters (mcm) in the coming weeks due to a significant drop in temperatures across the country. The National Iranian Gas Company (NIGC) estimates that current gas consumption, which is about 500 mcm, could exceed 600 mcm as colder weather sets in. This increase in demand is expected as the country's winter season intensifies, prompting greater use of Natural gas for heating and power generation.

In the past Iranian calendar year (1402), which ended on March 19, gas consumption saw a notable rise of seven billion cubic meters. According to Saeed Aghli, head of NIGC's Dispatching Department, Iran's total natural gas consumption last year reached 249 billion cubic meters. This included 119 billion cubic meters used by households, commercial sectors, and non-major industries, 51 billion cubic meters consumed by major industries, and 79 billion cubic meters for power plants.

While gas consumption by households, commercial sectors, and non-major industries decreased by three percent due to optimization plans, the demand for gas during the colder months of fall and winter was substantial, contributing to a total consumption of approximately 132 billion cubic meters in the second half of 1402. The majority of Iran's natural gas comes from the South Pars gas field, shared with Qatar in the Persian Gulf, which holds about eight percent of the world's natural gas reserves, alongside significant condensate resources.

MENAFN01122024000045015839ID1108943209