TEHRAN (PIN) – The gas supply manager of National Iranian Gas Co. (NIGC) said 22 billion dollars would be invested in the gas industry by the end of the Fourth Five-Year Socioeconomic Development Plan (2005-2010).

Azizollah Ramezani added the figure would soar to 131 billion dollars by the end of 20-year plan. He said Iran was the world’s second biggest holder of gas reserves, fourth largest producer, and third biggest consumer of the energy carrier. The official added, “Following the government’s policy, over one million gas-fueled cars will be produced by the end of current (Iranian) year (March 20, 2008) and more than one thousand compressed natural gas (CNG) stations will become operational during the period. Ramezani, also a member of NIGC’s board of directors, said Iran stood 15 in the world’s gas exporters standings, regretting that the country’s ranking was not good as the major part of gas produced in Iran was used at home. He said energy consumption in Iran was more than the gross domestic product. “South Pars is the largest gas field of Iran as it holds 50 percent of the country’s gas reserves and eight percent of the world’s deposits,” he added. Ramezani said Iran’s refining capacity was 440 million cubic meters and 75 percent of the country’s population was using natural gas. Fuel Optimization Organization managing director also announced that one thousand CNG stations would be put into operation by next March. Abbas Kazemi told PIN the process of equipping cars with gas-fueled system had been accelerated, predicting that the number of cars with gas-operated engines would soar to 3.25 million. According to him, carmaking companies are duty-bound to start production of gas-operated cars as of July 23. Kazemi said 22 CNG stations were currently working in the country