Iran launches offshore gas projects in Gulf

Iran on Sunday launched several projects in the Gulf which it said would produce 150 million cubic metres of gas per day from the world’s largest natural gas field which the country shares with Qatar.

In a ceremony carried live on state television President Hassan Rouhani inaugurated five new projects which officials said would put Iran on an equal footing with Qatar in exploiting the offshore gas field, which Tehran calls South Pars and Doha calls North Dome.

Rouhani, and other officials at the event including oil minister Bijan Zanganeh, did not give a timeline.

Iran also launched four petrochemical projects with an annual production of two million tonnes worth about $2bn, state media said.

Earlier this month, Qatar said it had lifted a self-imposed ban on development of the joint field, as the world’s top LNG exporter looks to see off an expected rise in competition.

Qatar declared a moratorium in 2005 on the development of the North Field, to give Doha time to study the impact on the reservoir from a rapid rise in output.