Iran Oil Minister Rostam Qasemi says the country's natural gas production will increase by more than twofold over the next three years.
“According to [our] planning, the country's gas production capacity will reach 1.4 billion cubic meters (bcm) per day within the next three years,” Qasemi said on Sunday.
The minister added that Iran would be exporting its natural gas to a greater number of neighboring countries by 2015.
“Thanks to the [US and European Union] sanctions [against Iran] and with the efforts made [by Iranian experts], currently about 70-80 percent of [Iran's] oil industry and refinery equipment are produced domestically,” Qasemi said.
In early 2012, the United States and the European Union (EU) imposed new sanctions on Iran’s energy and financial sectors.
The illegal US-engineered sanctions have been imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.
Iran rejects the allegation, arguing that as a committed signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.