Iran discovers more than 200b cubic metres of natural gas reserves

Iran discovers more than 200b cubic metres of natural gas reserves



Iran’s energy sector has taken a hit since joint US-Israeli strikes on the Islamic republic launched the Middle East war in late February. — AFP pic


Summary

• Iran announced the discovery of over 200 billion cubic meters of natural gas in Fars province, with more than 160 billion cubic meters considered extractable, according to Petroleum Minister Mohsen Paknejad.
• Described as sweet natural gas, the new reserves promise lower operating and development costs.
• However, production from this site may take years.
• This discovery comes amidst significant challenges to Iran's energy infrastructure due to ongoing strikes from the US and Israel, affecting gas production facilities, oil depots, and transport routes.

First Published: Monday, 24 Aug 2026 9:15 AM MYT




TEHRAN, Aug 24 — Iran said yesterday it had discovered more than 200 billion cubic metres of natural gas, months into the Middle East war that has hit the country’s energy infrastructure and production.


“New gas reserves were discovered in the south of Fars province,” Petroleum Minister Mohsen Paknejad told state television, adding that over 160 billion cubic metres could be extracted from the field.


He described it as sweet natural gas, which has very little of the toxic gas hydrogen sulphide, resulting in lower operating and development costs.


According to Bloomberg, any new production from the site would likely be years away.


Iran’s energy sector has taken a hit since joint US-Israeli strikes on the Islamic republic launched the Middle East war in late February.

The countries have struck Iran’s energy infrastructure such as gas production facilities or oil depots, as well as transport routes. — AFP

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