Iran is ramping up production at phase 11 of its South Pars gas field this winter, and is actively looking for export markets to sell the additional gas it produces
NIOC CEO: this winter gas from South Pars phase 11 will be available.
If Iran is not able to directly sell its gas in Europe, it may resort to rebranding or selling it through intermediaries of some sort.The threat of sharply rising gas prices and supply failures increases as Europe heads into winter without the reassurance of abundant cheap gas from Russia. Such gas supplies may halt completely if the European Union gives the final approval to a cap on gas prices from Russia at its meeting on 24 November.
From this starting point, with Russia’s help, the gas output from Phase 11, and from all other 23 phases of South Pars, will be increased dramatically, a senior oil industry figure who works closely with Iran’s Petroleum Ministry toldlast week. With an estimated 14.2 trillion cubic metres of gas reserves in place plus 18 billion barrels of gas condensate, South Pars already accounts for around 40 percent of Iran’s total estimated 33.
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