Iranian energy experts and engineers succeeded in discovering a new gas field in the Iranian part of the Caspian Sea. A large natural gas deposit with reserves of 50 trillion cubic feet or 1.42 trillion cubic meters was discovered in the Iranian part of the Caspian Sea.
The new deposit at a depth of 700 meters exceeded a total volume of proven gas reserves of 11 trillion cubic meters in the country's part of the Caspian Sea by almost 400 percent.
Iran's gas reserves are the second largest in the world after Russia's and amount to about 16 percent of all world reserves.
Exploiting Iran’s natural gas reserves to the extent of 33 trillion cubic meters can continue for the next 156 years.
This is while the natural gas reserves of countries such as US and Canada will only be sufficient for the next 12 years.
Iran is the world’s fourth natural gas producer after the US, and Canada with an annual production of 154 billion cubic meters.
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