Iran's energy sector review

Iran has to generate 7 percent of its electricity from renewables by 2020, otherwise it can face fines under the Paris climate deal, the spokesman of Iranian parliament’s energy commission Asadollah Gharekhani has told Trend. Iran has committed itself to decrease CO2 emissions by 4 percent in 14 years by investing $17.5 billion. By absorbing further $35 billion of international investments, Iran says it can reduce CO2 emissions by 12 percent, based on the Paris climate deal, known as the COP21, achieved in late 2015. The power sector with a 33-percent share of CO2 emissions is one of the major areas that Iran has a massive plan to optimize, both for curbing CO2 emissions and decreasing energy intensity. So far the COP21 agreement doesn’t threaten any country with sanctions, but once it is signed by 55 nations, the major CO2 producers may face punishments in the future. Global carbon dioxide emissions in 2014 were about 35,900 million tons. Iran ranked 10th among the major CO2

Iran targeted exporting 0.5-2 million metric tons per year (MT/y) of LNG exports using mini-LNG plants and floating LNG vessels, Ali Kardor, the managing director of National Iranian Oil Company told Mehr. Iran stopped completing a 10.4-MT/y LNG project last decade due to sanctions, but resumed negotiations with foreign companies in 2016 to bring the 52-percent developed plant to operational stage. Despite than, the talks have not reached to any results yet. Completing “Iran LNG” projects needs reportedly about $8-$10 billion of investment, but Iran has two other options to export LNG in restricted amounts to international markets. The country has started negotiations with foreigners to collect flaring gas and convert it to LNG. Currently, Iran’s flaring gas amount stands at about 11 billion cubic meters per year (bcm/y). Each mini-LNG plant can produce about 50-150 thousand tons per year and Iran plans to export the liquefied gas, produced in these plants to remote regi