Iran Discovers Major Gas Reserves Amid War-Hit Energy Sector

The discovery of over 200 billion cubic meters of natural gas in Iran's Fars province is being hailed as a significant find, but it may not alleviate the country's energy woes immediately. The new reserves were announced by Petroleum Minister Mohsen Paknejad, who said that more than 160 billion cubic meters could be extracted from the field.

The discovery comes at a time when Iran's energy sector is facing disruption due to US-Israeli strikes on gas facilities and oil depots. These attacks have resulted in a decline in production and have caused gas prices to soar.

Paknejad described the newly discovered natural gas as 'sweet', meaning it has very little of the toxic gas hydrogen sulphide, which reduces operating and development costs.