Iran Unveils Major Gas Discovery Amid Ongoing Tensions with US
A major new gas discovery has been announced in Iran's southern province of Fars. According to the oil ministry, estimates suggest that around 7.5 trillion cubic feet of gas have been discovered, with a recoverable amount of 73%, or approximately 5.7 trillion cu ft.
Iranian Oil Minister Mohsen Paknejad described the find as 'sweet', implying lower development and operating costs due to its quality. He also pointed out that this volume of gas is equivalent to one block of South Pars, which could supply gas for up to 15 years.
The news comes amid ongoing tensions with the US, which has threatened to impose more sanctions on Iran. President Trump described them as 'draconian', stating that 'we have things that we could sanction... and we'll see what happens.'