Gas should play bigger role in energy market in Iran

Iranian Oil Minister Bijan Namdar Zanganeh said gas resources should play a more effective and bigger role in the global energy market. “Today the gas energy has become more important, but it will not result in depreciation of the role of petroleum and coal energies," Zanganeh said after Asked about the possibility of replacing oil with gas, Zanganeh said that oil can never be eliminated but gas can have a bigger share in the world energy markets. His remarks came after Iran held the 15th ministerial meeting of the Assembly of Gas Exporting Countries earlier this week. GECF members account for 42 percent of the world’s gas production, 70 percent of the world’s gas reserves, 38percentof pipeline gas transmission and 85 percent of liquefied natural gas (LNG) trade. Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, Venezuela, the United Arab Emirates and Oman constitute the 13 member states of GECF. The Netherlands, Kazakhstan and Norway have observer status and Iraq has recently joined the forum.