Investing $1 billion in the compressed natural gas sector, as an alternative green fuel, will help replace 20 million liters of gasoline with 20 million cubic meters of CNG per day, a deputy oil minister said Saturday.
“Expanding gasoline output capacity (110 ml/d) by 18% or 20 million liters a day requires at least $15 billion, which is not good economics compared to investment in CNG,” IRNA quoted Alireza Sadeqabadi as saying.
Thanks to vast natural gas reserves in Iran, developing the CNG sector (either to increase the number of CNG-hybrid vehicles or add 20 mcm to the current daily production) would deliver in less than two years.
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