Iran discovers huge 7.5 trillion cubic feet gas reserve in Fars Province amid US sanctions pressure

DUBAI: Iran has discovered over 7.5 trillion cubic feet (212.4 billion cubic metres) of gas in a field in the south of its Fars Province, according to Oil Minister Mohsen Paknejad quoted by state media on Sunday. Given an estimated recovery ratio, Paknejad said it was possible…

Iran's pre-war natural gas production was estimated at around 650 million cubic metres per day, equivalent to approximately 8.4 trillion cubic feet annually. The recoverable gas from the newly discovered field therefore represents a substantial volume compared with Iran's annual…