Sunset over the Caspian sea, Iran
Iran talks the talk on Caspian gas
The Chalous deposit is both significant and conveniently located for potential export purposes. But production is likely a long way off
A subsidiary of National Iranian Oil Co. (NIOC) caused something of a stir this summer with claims that the identification of new resources in the country’s Caspian Sea sector could see Iran supply 20pc of European gas demand. “If the initial estimates [at Chalous] are confirmed and exploration success is achieved,” Khazar Exploration and Production Co. (Kepco) CEO Ali Osouli said on his company’s website, “the Iranian sector of the Caspian Sea will play a significant role in gas exports to Europe in the near future. Iran’s new gas hub will be formed in the north to let the country supply 20pc of Europe’s gas needs from this region”. The suggestion was quickly seized on by political analysts
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
