The European Union may import 25-35 billion cubic meters of gas from Iran annually by 2030, according to Russia’s business news agency Prime.
Iran could become a very large supplier of natural gas to the EU by the end of the next decade, Prime reports with reference to the new estimates of the European Commission (EC) following talks with Tehran and also its sources in the EU and European energy companies.
According to the EU official and the representative of one of the European energy companies, EU imports of natural gas from Iran could reach 25-35 bcm a year by 2030. This corresponds to the current volume of gas supplies from North America and will help reduce dependence on imports from Russia. Currently, Russia’s annual exports to the EU amount to 130 bcm.
According to preliminary estimates of the EU, the major part of these 35 billion bcm will be delivered in the form of liquefied natural gas (LNG) through Spain, which has the largest capacities for LNG imports into the EU. In addition, the reports says that the European energy companies expect to return to Iran after the sanctions against Tehran are lifted.
Representatives of RWE AG, E.On AG, BP Plc, Royal Dutch Shell Plc, Repsol SA, Total SA, Engie SA and Statoil SA held a meeting in September on Iran's capabilities with the European Commissioner for Climate and Energy, Miguel Arias Canete.
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Tehran still needs to implement the so-called nuclear deal, reports the publication. The country needs to make a number of steps so that the sanctions are completely removed, and this probably will not happen until early next year. Until this time, the possibilities of European companies in terms of establishing ties with Iran are limited.
Iran and the international negotiators reached a historical agreement on the night of July 14 on the settlement of long-term issue of the Iranian nuclear program. Lengthy negotiations led to the adoption of the joint comprehensive action plan, the implementation of which will completely remove previously imposed economic and financial sanctions of the UN Security Council, the United States and the European Union against Iran.