NextGen Day

TEHRAN, Iran (Reuters) – President Ebrahim Raisi of Iran announced on Tuesday that his country is ready to export natural gas to the rest of the world, including Europe.

Raisi, speaking at the sixth summit of the Gas Exporting Countries Forum (GECF) in Doha, Qatar, said Iran, as one of the world’s largest holders of natural gas reserves, has the capacity to supply it to the rest of the world, and urged the international community to support initiatives aimed at ensuring the global energy market’s security.

Raisi is making his fourth overseas trip since taking office in August, and his first to Qatar.

Raisi claims that by relying on native skills and resources, his country has been able to increase natural gas output and complete big projects in the oil and gas sectors.

Sanctions enforced by the “”Hegemonic powers” were “no longer effective” against “free states,” he said, advocating better collaboration among gas exporting countries to avoid sanctions.

Raisi’s comments come as tensions between Russia and the West over the Ukraine conflict escalated, threatening to destabilize the global oil market.

On Tuesday, oil prices surpassed $100 per barrel for the first time in more than seven years.

Natural gas futures in Europe were also jittery, surging more than 13%, as Russia supplies more than a third of Europe’s gas demand.

Raisi’s comments, which were intended to calm the energy market, are also being interpreted as a show of support for Russia, a crucial regional ally that has been threatened with heavy sanctions by Western countries if it invades Ukraine.

Iran’s Foreign Ministry spokesman, Saeed Khatibzadeh, called on all parties to “show caution” and “seek to address issues through discussions and within a peaceful framework” in a statement released Tuesday.

Iran, he stated, feels that “Any action that has the potential to exacerbate tensions should be avoided.”

Meanwhile, Iran’s Oil Minister Javad Oji reiterated Raisi in his comments on Tuesday, stating that Iran has frequently maintained that it has the “required capability” to supply gas to neighboring nations and even Europe.

Despite high domestic consumption and exports, Oji noted in a televised interview that many of the country’s gas resources are still intact, and that additional fields had been discovered in recent years.

Many accords for the development of oil and gas resources, the restoration of oil and gas refineries, and the transfer of technical and engineering services are “on the anvil,” he said.

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