Iran Unveils Massive Gas Discovery Amid Conflict

Iran's Oil Minister Mohsen Paknejad announced on Sunday that his country has discovered more than 7.5 trillion cubic feet of natural gas in a field in southern Fars province, according to Reuters citing Iranian state media.

The estimated recovery rate means Iran could produce about 5.7 trillion cubic feet from the discovery, which is considered 'sweet' due to its quality reducing development and operating costs, Paknejad said.

The discovery comes as Iran faces pressure on its energy system after months of conflict with Israel and the United States, including planned new US sanctions that could add stress to its economy.