Sanctions on gas exports from Iran would be more costly to Europe, as it has had extensive gas contracts with Iran, EU economic advisor Mehrdad Emadi told Trend. Iran holds first place among natural gas producing countries in the region, followed by Qatar and Saudi Arabia.
Iran's natural gas production (excluding gas flares or recycled gas) increased in 2011 by 5.6 percent compared to 2010, according to BP's June 2012 World Energy review report, Trend reports.
Emadi noted that if there is a move to impose such sanctions by the US, it has to be supported by the EU in order to be effective. "At this stage there are no indications so far that exports of gas are targeted, but this does not mean that we may not see their introduction in the coming month," Trend quotes Emadi.
Currently, Iran produces around 620 million cubic meters of gas daily.
