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Significance
The EU on March 10 set a deadline of 2027 to “achieve independence” from Russian gas. Iran, which has the world’s second-largest gas reserves, has the potential to become a major supplier to European countries. Iranian President Ibrahim Raisi on February 23 expressed readiness to supply gas to Europe.
Impacts
The complex Iranian political system will act as a barrier to the reforms needed to attract foreign investment.
Closer ties with Kuwait and Saudi Arabia would result in the development of the massive Dorra/Arash joint gas field.
Long-term elevated gas prices will improve the risk-reward relationship for developing Iran’s gas sector.
Keywords:
Iran,
ME/NAF,
EU,
Azerbaijan,
China,
Iraq,
Kuwait,
Qatar,
Russia,
Saudi Arabia,
Turkey,
Turkmenistan,
United States,
economy,
international relations,
politics,
energy,
foreign trade,
gas,
infrastructure,
investment,
foreign investment,
Fossil fuels
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2022
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