Iran finalizes gas production expansion contracts by March 2025, despite sanctions
Date
12/11/2024 8:08:20 AM
(MENAFN) Iran is set to finalize agreements aimed at enhancing its gas production capacity before the close of the current Iranian calendar year (by late March 2025), according to Oil Minister Mohsen Paknejad.
Speaking during the Gas Exporting Countries Forum (GECF) Ministerial Meeting, Paknejad informed the press that these contracts, once carried out, will greatly increase the nation's gas production capacity.
“Some agreements will be implemented before the year concludes, while others will start next year,” he noted, highlighting that both domestic and international resources are being utilized for these arrangements.
Paknejad underscored the significant financial worth of the contracts, with clear plans for their financing. “These deals will lead to a rise in the country’s gas output following a precise timeline,” he added.
Focusing on gas pressure-enhancement initiatives as part of the agreements, Paknejad responded to concerns about sanctions affecting Iran’s oil and gas industry. “Regardless of the severity of the sanctions, Iran’s oil industry specialists have already devised solutions, and the people of Iran need not worry,” he assured.
The minister emphasized that strategies to combat sanctions have been meticulously designed to address their complexities. “We have not yielded to these sanctions,” he affirmed.
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