Iran expects steep increase in gas output

Iran will see a steep rise in its natural gas output and exports, its deputy oil minister Amir Hossein Zamaninia said on the sidelines of 22nd World Petroleum Congress in Istanbul.

Iran's deputy oil minister for trade and international affairs said Iran's gas production would rise to 1 billion cubic metres a day by the end of the year from the current 800 million cubic metres (mcm) per day.

He said volumes available for export should reach 365 mcm a day by 2021.

"With the contracts signed last week, with the Chinese company and Total and the Iranian company, that is also a very good indication that the assessment by international oil companies is that the return of sanctions is very unlikely, if not impossible," Reuters cited Zamaninia as saying.