Iran inks USD6B deals to enhance gas revival from South Pars

2024-12-26 01:23:42

(MENAFN) Iran's oil minister declared projects to sign USD6.0 billion worth of agreements to emhamce pressure at the South Pars gas sector, which is a major countrywide primacy.

Based on Mehr News Agency, Mohsen Paknejad noted on Tuesday, December 24, throughout a gathering with the parliamentary Article 90 Commission candidates, that applying pressure-enhancing services at South Pars is important for the nation.

He also noted that the financial preparations for the plan have been accomplished.

Paknejad clarified that essential legal outlines are in place for investments by energy-intensive businesses, comprising petrochemical and steel assets, in the nation’s gas sector.

He stated that private traders might regain their participations via gas distributions following manufacturing starts.

Emphasizing structural problems in the nation’s energy field, the minister noted that "The current energy imbalance stems from years of underinvestment in upstream sectors."

As the Oil Ministry supervises manufacturing and trading in gas sectors, he stated that limited break might come from gas brought ins and exchanges, however, these unaccompanied measures are unsatisfactory to address the instability.

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