09:43 - 24.08.2026

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August 24, Fineko/abc.az. Iran has announced the discovery of over 7.5 trillion cubic feet of natural gas reserves in the southern Fars province following recent damage to its energy infrastructure.

Oil Minister Mohsen Paknejad stated that approximately 5.7 trillion cubic feet of the deposit is recoverable. This equals roughly 15 years of production from a single phase of South Pars, the world's largest gas field shared with Qatar. The discovery also holds gas condensate valued at tens of billions of dollars.

However, analysts warn that developing the new site could take years. Already struggling with Western sanctions and underinvestment, Iran lost nearly a quarter of its daily gas production capacity due to recent strikes on energy facilities, leading the government to issue warnings regarding potential winter fuel shortages.