Gas Export to Europe Needs Investments

Gas Export to Europe Needs InvestmentsGas Export to Europe Needs Investments

Iran needs investments to develop the infrastructure for exporting its gas to Europe, said former US assistant secretary for South Caucasus, ex-ambassador to Azerbaijan and director of the International Center for Defense Studies in Tallinn, Matthew Bryza.

In an interview with Natural Gas Europe, Bryza said the export of Iranian gas to Europe will take a while, Trend reported.

“You'll see a really rapid uptick in oil volumes. They've got 40 million tons stored right now that could be released. They're going to increase production quite quickly once the sanctions are lifted over the course of a year or so,” he said.

Natural gas, Bryza believes, will be a bit more difficult because the infrastructure is not there.

“Iran has underperformed on its gas deliveries to Turkey for some time. There will probably be a flood of investment to help Iran develop those pipeline interconnections into Turkey and beyond, but I think it will take a little while,” he added.

Speaking about the Southern Gas Corridor project, which envisages at its initial stage the transportation of Azerbaijani gas to European markets, Bryza said it is on track.

“It's going to happen," he said, adding that the gas contracts have received the green light and that the commitments are there to buy all the gas.