Global Gas Union official: Iran conflict prolongs supply shortages

A senior official at the International Gas Union has said that the market is anticipating a prolonged shortage in supplies as a result of the conflict involving Iran.

Iran recently announced it has restored about half of the production capacity damaged at the South Pars gas field, as part of a plan to bring all halted capacity back online before the start of winter.

Iranian Deputy Oil Minister for Planning Ahmad Zareatkar stated that efforts to restore production capacity are progressing rapidly, with several units returning to service ahead of schedule.