Iran can have a bigger share in the global gas market given the size of its natural reserves, managing director of the National Iranian Oil Products Distribution Company (NIOPDC) said.
Addressing a conference ahead of the 7th conference and exhibition of Asia Pacific Natural Gas Vehicles Association (ANGVA) in Tehran, Mansour Riyahi, said given the fact that Iran enjoys 18% of the world’s proven natural gas reserves, it has only 1.5% share in the natural gas market which must increase soon, source reported.
“We are optimistic that the ANGVA 2017 will pave the path for developing compressed natural gas (CNG) industry of Iran,” he said.
Iran sits atop 46% of the gas reserves in the Middle East and 11% of the world’s oil reserves, he said.
Riyahi described CNG industry as a strategic industry in Iran, adding the sector must develop for various political, economic, environmental and developmental reasons.
Iran currently enjoys 2,400 CNG stations and over 4.5 million CNG-run cars that consume over 20 million cubic meters of the fuel on a daily basis.