TEHRAN (Iran News) – The National Iranian Gas Company (NIGC) said its supply of natural gas to power plants across the country increased by two billion cubic meters (bcm) in the four months ending July 21, allowing the country to earn $1 billion from exports of the substituted gas oil.
“Every one billion liters of gas oil product is worth $500 million in the international market,” said NIGC Managing Director Hassan Montazer Torbati, adding, “With an increase of two bcm in the supply of gas to power plants, we have seen $1 billion from exports of the product,” reported Press TV.
Torbati did not elaborate on further details, including to which country Iran had supplied its surplus gas oil.
However, reports in recent months have suggested that gas oil exports has become a major source of earning hard currency for Iran, a country that has seen its direct sale of crude reduced under a series of US sanctions.
Torbati said the total gas supplied to Iranian power plants in the first four months of the current calendar year amounted to 26 bcm, or 210 million cubic meters a day. That is nearly a fourth of current daily output of natural gas in the country.
Iran plans to reach a natural gas output target of one bcm per day by the end of the current administrative government in August 2021.
Electricity generation has seen a huge boost mainly because of the stable supply of natural gas to Iranian power plants where the use of the so-called combined-cycle systems, in which the exhaust heat from firing gas in combustion turbines is returned to the production cycle, has become more prevalent in recent years.
- source : Iran Daily, Irannews