Iran General NewsFears of price war as Iran cuts gas supply

Fears of price war as Iran cuts gas supply

-

Daily Telegraph: Fears have been raised that Iran could use its huge gas reserves as an economic weapon after it cut off most of its gas supply to Turkey. The Daily Telegraph

By Edmund Conway

Fears have been raised that Iran could use its huge gas reserves as an economic weapon after it cut off most of its gas supply to Turkey.

Iran confirmed yesterday that it had slashed exports to its neighbour to 5m cubic metres a day, compared to the usual 20m cubic metres.

Iran blamed its action on Turkmenistan, which has stopped supplying Iran, but the move sparked concerns that Iran could limit gas exports to boost prices.

The action comes two years after Russia cut its gas supply to Ukraine, causing energy prices to rocket.

Iranian representatives said they had taken the action after many Iranian households were left without gas during freezing winter weather. “After the recent sharp drops in temperature and the halt in deliveries from Turkmenistan, exports of gas to Turkey have been cut to a minimum,” said Iranian news agency Fars.

Turkey is currently the only large importer of Iranian gas, though more countries are expected to join Iran’s network in the coming years.

Despite having the world’s second-biggest gas reserves after Russia, Iran suffers from perennial energy shortages due to a lack of investment in the sector. This is one of its major arguments for developing its controversial nuclear programme.

Latest news

Snapback Sanctions, a Must Response to Iran’s Human Rights Abuse and JCPOA Violations

The protests in Iran have been going on for more than two months, even though the regime is cracking...

Growing Disintegration Among Iran Regime’s Forces

Iran has been shaken by a wave of nationwide protests since mid-September. The trigger was the death of the...

Grim Tidings for Iran’s Regime After Approval of UN Fact-Finding Mission

After many discussions and debates, the United Nations Human Rights Council has approved a fact-finding mission to investigate the...

Iranian People’s Resistance Changed the Appeasement Policy

Soon after the new US government started its obligations in January 2021, hand in hand with the European governments...

Khamenei’s Disgraceful Campaign Against Piranshahr and Javanrud, Who Will Be the Loser?

On the 67th day of Iran’s revolution, the Iranian regime attempted to put a halt to the protests in...

Iran: Expensive Medicine, Cheap Human Life

A look at the equipment and weapons that the Iranian regime has been using against its people to suppress...

Must read

Scholar held in Iran to be freed on bail

AP: A detained Iranian-American academic accused of conspiring against...

US accuses Iran over North Korean missile tests

Reuters: Iran accused the United States on Thursday of...

You might also likeRELATED
Recommended to you