Iran Aims to Invest $30 Billion Annually in Energy Optimization
In a bid to bridge the gap between energy production and consumption, Iran plans to invest $30 billion per year in optimizing energy consumption during the current government’s term from August 2024 to August 2028. Speaking at the III International Conference on Energy Efficiency and Consumption Optimization in Tehran, Iranian Deputy Oil Minister Houshang Falahatian stressed the importance of addressing the issue to avoid a serious imbalance.
Falahatian highlighted the drastic increase in energy consumption, lack of attention to energy optimization projects, and significant energy losses as factors contributing to the disparity. He emphasized the need for reforms in both production and consumption sectors, dismissing the idea of solely increasing gas and petroleum production.
The deputy minister pointed out that maintaining current oil and gas production levels, developing new fields, building refineries and processing plants, as well as expanding transportation infrastructure, require substantial time and funds. The two-day international conference and exhibition in Tehran aims to explore solutions for energy efficiency and consumption optimization.