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Iran gas network fourth in world

19 May 2011 17:22 (UTC +04:00)

Baku-APA. Iran’s natural gas distribution network is the fourth largest in the world, Chairman of Iran’s Gas Transportation Company Reza Almasi says, APA reports quoting Press TV.

â€œIran stands in second place in the world in terms of natural gas reserves and ranks fourth in natural gas distribution network after Russia, the US and Canada,â€ said Almasi, quoted by Fars News Agency on Thursday.

He added, â€Forty percent of the world’s gas is located in the vicinity of the Persian Gulf, shared between Iran and Qatar.â€

In January, Iran’ Oil Ministry announced plans to increase the country’s natural gas production capacity to 900 million cubic meters (mcm) by 2015.

Iran also plans to become a major liquefied natural gas (LNG) supplier in the world through the production of 70 million tons of LNG by 2015.

The country plans on exporting its first cargo of LNG in 2013.

Iran sits on the world’s second-largest natural gas reserves after Russia and has also sought to promote itself as a transit route for oil and gas from Central Asian states.