Iran Finds 7.5 Tcf Gas Reserves as Sanctions and Conflict Pressure Energy Sector

Iran has found more than 7.5 trillion cubic feet (tcf) of natural gas in Fars province, Oil Minister Mohsen Paknejad said, as per a Times of India news report.  

The announcement comes as the country's energy sector continues to face pressure from the conflict involving the US and Israel. Of the total discovery, around 5.7 tcf is considered recoverable, Paknejad told state television.  

He said the volume was equal to about 15 years of output from one phase of South Pars, the world's largest gas field, shared by Iran and Qatar. 

Discovery Includes Gas Condensates 

The new reserves also contain gas condensates worth tens of billions of dollars, according to Paknejad. He said Iran intends to develop the field as soon as possible. 

However, it could take years before the newly found reserves begin contributing to gas production. Iran's energy industry was already dealing with Western sanctions, low investment and power shortages before the latest conflict disrupted infrastructure. 

One-Quarter of Capacity Hit 

Iran lost around one-quarter of its daily gas production capacity after attacks on energy facilities began in late February, Bloomberg reported. Some of the affected sites were linked to South Pars. 

Part of the lost capacity has since been restored. However, the government has warned that the country could face gas shortages during winter and has asked people to cut their consumption. 

Hormuz Dispute Continues 

The announcement also comes amid rising tensions between Iran and the US over the Strait of Hormuz, a key route for global energy supplies. US President Donald Trump recently reposted an image showing the waterway as “new US territory”. 

Iran has rejected the claim and said the Strait will remain closed unless the US changes its position.  

Further Sanctions Expected 

The US is preparing additional economic measures against Tehran. Treasury Secretary Scott Bessent is expected to announce what he has called the “toughest sanctions in history” and has urged China to cooperate with Washington over Iranian oil shipments. 

Iran has criticised the planned secondary sanctions, while President Masoud Pezeshkian has continued to call for diplomatic engagement. The discovery adds to Iran's gas reserves as its existing energy infrastructure remains under pressure. 

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Conclusion  

Iran has added a significant new gas discovery to its reserves, although bringing the resources into production could take time amid ongoing disruptions to its energy sector. 

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