Iran's energy sector review

Iran sits on the world's largest natural gas reserves. The country's estimated reserves are around 33.6 trillion cubic meters or 18 per cent of the world's total proven gas reserves. However, the development rate of the country's gas projects is slow, and gas accounts for a major share of Iran's energy conumption. Iranian Oil Miniser Bijan Namdar Zanganeh puts the figure at 70 per cent. During the past month, several reports suggested that the capital, Tehran, and other cities across the country were facing gas shortage. Also it was reported that LNG distribution at the gas stations have been halted and the government was forced to feed liquied gas to power plants instead of natural gas. In the latest case, Iranian media outlets reported that the oil ministry has ordered the petrochemical complexes to lower their production rate to the least possible, or even halt production until further notice. Ahmad Mahdavi, the Director General of Petrochemical Emp