TEHRAN (Iran News) – Oil minister announced that the trilateral gas swap project among Iran, Turkmenistan and Azerbaijan Republic began on Monday, in which Iran receives between 4 to 4.5m cubic meters of natural gas in northeast which strengthens the north Iranian Gas Network.
Javad Owji, who was speaking with the press after attending the Energy Commission of the Parliament on provision of fuel for the nation during the winter season said that by grace of God, thanks to the efforts made by our colleagues, and the people’s support, up to the present day we have not faced the need to cut the gas in any part of the country, or with decreased pressure problem.
The oil minister referring to the gas consumption in the homes said that in most provinces the temperature has deceased severely and in 20 provinces we have temperatures around zero degree centigrade, or a couple of degrees below zero.
“Thanks to the measures adopted to provide liquidated fuel for the power generation stations and the industries, those industries and power stations which used natural gas were decreased, and fortunately they kept on generating electricity using liquidated gas,” added Owji.
He also requested the people that just as they have thus far economized in usage of gas and all benefitted from this God-given blessing thanks to their maximum cooperation, from now on, too, keep on cooperating so that we will not face any challenge in provision of gas for home usage or be urged to cut the gas for the industries.
“In homes, commercial and transportation sectors altogether we have used around 600 million cubic meters nowadays, and in power generator stations around 100 million cubic meters, or its equivalent in gas oil, and the fuel oil usage has been very low, close to 25 million cubic meters, but by providing fuel oil for the industries we did not let them shut down,” said Owji.
On the moves made to finalize the gas swap deal, the oil minister said that the swap contract among Turkmenistan, Iran and Azerbaijan was signed on the sidelines of a conference in Turkmenistan in the presence of Iranian President Ebrahim Raisi.
He said that the gas swap operation was initially scheduled to start as of the beginning of the Christian New Year, and fortunately started on Monday, and Iran receives from the northeast part of the country 4 to 4.5 million cubic meters of gas daily, which is pumped in the provinces in the same region to strengthen the network, and is a good fortification.
Owji added that in northwest Iran, too, the swap operation is operational with Azerbaijan Republic, which keeping in mind that our usage in northeastern parts in stabilized, it contributes stabilizing the balance in the National Gas Network.
He also said on Tuesday evening that the members of OPEC+ coalition are ready to swiftly and securely provide the market and consumers with oil when required.
Owji made the remark after the 24th OPEC and non-OPEC Ministerial Meeting held via video conference on Tuesday, January 4, 2022, adding the group agreed to extend their agreement to increase crude oil output by 400,000 bpd for February 2020.
According to JMMC’s report as well as the world economic outlook and global oil supply-demand drivers analysis for 2022, the OPEC+ member states all agreed to raise production by 400,000 bpd, he added.
Statistics and reports show that despite concerns over the outbreaks of Omicron variant, global oil market is moving towards balance and stability, thanks to the improved economic indicators in the world, particularly in major oil consuming countries, as well as the appropriate OPEC+ member states’ compliance, which reached 117 percent in November, Owji said.
OPEC+ member countries are also satisfied with the current situation and all producers try to maintain the existing stability in the oil market, he stated.
“Given the promising economic outlook for the first quarter of 2022, the current trend is expected to be maintained. The OPEC+ countries are ready to swiftly and securely provide the market and consumers with oil when required,” Owji said.