Business & Economy

Iran will supply Europe with oil

Iranian Foreign Ministry spokesman, Nasser Kanaani, stated that Iran can supply Europe with part of its energy needs.

This Kanaani said during a press briefing, in light of the Ukrainian crisis and the problems of energy supplies to Europe, if the negotiations (the nuclear agreement) reach a conclusion and sanctions are lifted, Iran can be a supplier for a greater part of Europe’s needs, especially energy resources.”

Where Kanaani added that Europe needs Iran’s capabilities in providing energy.

He continued, “We hope that an agreement will be reached and that Iran will play a more active role in providing energy to the countries of the world and Europe.”

The leading expert of the Association of Oil and Gas Producers of Russia, Rustam Tankayev, also stated that Iran can completely replace Russia in the European gas market, but at a very high price, which the Europeans are not prepared to pay for a number of reasons.

Of course, Iran appears to be more modest than Russia in the energy market, Tankayev said, but Iran has the second largest gas reserves in the world. It could completely replace Russia in the European market if, first, the sanctions imposed on Iran are lifted, and secondly, if the gas supply problem is resolved. From Iran to Europe, you can try to attract foreign gas tankers, but Europe has already made such attempts, and it turns out, quite simply, that there are no free gas tankers in Europe.”

He also continued: “According to Tankayev, natural gas shipments from Iran to Europe via a gas pipeline are possible; in theory, it can even replace Russian gas. However, geopolitical conditions, which simply cannot be resolved in the foreseeable future, will not allow Europeans to buy Iran’s blue fuel in the next few years: The gas pipeline connecting Iran to Europe exists. But its capacity does not exceed 15 billion cubic meters annually.”

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