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Iran's steel production will decline significantly due to gas shortages

An Iranian industrialist says gas and electricity shortages will likely lead to a two million ton decline in the country's steel production.

Iran's steel production will decline significantly due to gas shortages

In an interview, the Iranian industrialist stated that there is a serious gas shortage in steel companies, adding that the steel industry needs 40 million cubic meters of gas per day, but their consumption currently reaches 15 million cubic meters per day.

He also added that almost 50 percent of the electricity of industries has been cut because the amount of natural gas available does not meet the power plants' need to generate electricity.

Workplaces and schools were closed for days due to a serious natural gas shortage in Iran.

Although Iran has the world's second largest reserves, it has failed to invest in the gas production sector.

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