Iran Strikes Gas Riches Amid Ongoing Energy Sector Disruption

Iran has made a significant discovery of over 7.5 trillion cubic feet (tcf) of natural gas in its southern Fars province, despite ongoing tensions with the US and Israel disrupting its energy sector.

The recoverable reserves amount to around 5.7 tcf, equivalent to about 15 years of production from one phase of South Pars, the world's largest gas field, which Iran shares with Qatar.

Oil Minister Mohsen Paknejad said that along with the newly discovered natural gas, there are also gas condensates worth 'tens of billions of dollars'.

The discovery comes as Iran faces growing economic and energy pressures due to its confrontation with Washington. Despite this, Iranian officials have indicated that Tehran remains open to diplomacy.