Iran's energy sector review

Iran's ambassador to Turkey announced that the two countries reached an agreement to increase Iranian gas export to Turkey. The idea of increasing Iranian gas export volume to Turkey has existed for several years, but lack of infrastructure, dispute over price, lack of surplus gas in Iran, as well as imposed sanctions on this country prolonged the negotiations. Iran's Ambassador to Ankara Ali-Reza Bigdeli told reporters on June 23 “Iran and Turkey have reached agreement in principle on increase in the amount of gas flow from Iran to Turkey as well as relative discount Iran gives to the country”. His statement came after Turkey rejected Iran's proposal in April to give Turkey a discount if the volume on gas export doubles. Last year, Iran exported 9.76 billion cubic meters (bcm) of gas to Turkey, based on an agreement signed in 1996. Turkey has filed two complaints with the International Court of Arbitration accusing Iran of overcharging as well as citing the

Iran's power consumption hit a historic record on June 21, reaching 47.344 gigawatt (GW). This is the second historic record during the last two weeks and likely will be broken again with the start of summer on June 22. According to the latest weekly record, published by Iran's Energy Ministry on June 21, the actual power generation capacity of Iran's power plants was 56.856 GW (GW - unit for measuring power). However, Iran has a huge amount of electricity wasted. There is a huge power loss during the transmission and distribution process, which reaches around 56 billion Kwh (kWh - unit for measuring energy) , or more than 20 percent of total actual electricity energy generation capacity. Iran's actual electricity production level during a period from March 20 to June 12 stood at 276.1 billion kWh. However, Iran consumed 218.933 billion kWh, while the country's net electricity export reached 885 million kWh, during this period. During last fiscal year, en