Iran plans to triple gas export revenues to US$10 billion

Iran's gas export revenues are projected to increase from US$3.5 billion to US$10 billion in the next Iranian calendar year, National Iranian Gas Co. managing director Javad Owji said Monday.

Iran will see changes in the country's revenues from crude oil to natural gas, Iran's Mehr News Agency (MNA) quoted Owji as saying.

In referring to the republic's goal to triple gas shipments to its neighbours, he said: "By signing new agreements with Turkey and Iraq, Iran will increase natural gas exports to about 100 million cubic metres next year from the current 35 million."

Iran exported 8.4 billion cubic metres of natural gas worth US$3.5 billion in the last Iranian calendar year and imported 4.5 billion cubic metres worth US$1.8 billion last year.

Gas imports fell by 50 percent year on year.

Earlier this month, Owji said that Iran plans to increase its natural gas exports in a bid to reduce reliance on crude sales.

Iran's next calendar year begins March 21, 2014.