Iran’s President Mahmoud Ahmadinejad said in Tehran today that a newly discovered natural gas field in the Caspian Sea will change the “energy and political balance” of the region.
“The reserves of new gas field discovered in the Caspian Sea are about 50 trillion cubic feet and can meet domestic consumption demand for 10 years,” Ahmadinejad said [IRNA, 12 December].
Iran announced on Sunday that it has discovered the gas field in its territorial waters of the Caspian Sea. The Ministry of Oil said that Iranian companies will carry out the drilling work on the field. Iran produced 138 billion cubic meters of gas last year. The country has the world’s second largest natural gas reserves after Russia.