Iran's gas production and consumption (bcm) Source: BP Statistical Review of World Energy, 2014

Iran oil and gas: The implications of a possible deal

Iran and six world powers are seeking to reach a deal on Tehran's nuclear programme by July 20, 2014. This is the deadline set for Iran to agree to limit certain aspects of its nuclear activities. The long-time stand-off, should it be resolved, would not only have significant geopolitical implications but any deal would create exciting dynamics in the oil and gas markets. Global energy markets are closely watching Iran with its massive reserves of natural gas and oil.

<i>Even if a deal is reached with Iran on its nuclear programme, it will take some time before the Iranians are able unlock their massive resources potential and deliver additional oil and gas supplies to internati...

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Dr. Carole Nakhle
Many statements have been made about Iran exporting gas to Europe via Turkey, as Europe looks for alternatives to reduce its dependence on Russian gas. However, Iran was left out of the plans because of the political situation.
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