Document Type : Original Article
Authors
1 Law and Political Sciences Faculty, Allameh Tabatabaei University, Tehran Iran
2 Allameh Tabatabaei University, Tehran Iran
3 Faculty of Law and Political Sciences, Allameh Tabataba'i University
Abstract
The supply of natural gas in energy exchanges has emerged as a significant aspect of the global energy landscape since the 1990s, requiring the establishment of appropriate trading platforms. In Iran, it was envisioned the sale of up to ten billion cubic meters of natural gas following the approval of the budget law of 1400 (2021). However, despite these projections, no offerings were made on the Iran Energy Exchange (IRENEX) due to various challenges. This research aims to identify the essential prerequisites for gas supply in energy exchanges using a systematic review approach and subsequently analyze these prerequisites within the context of Iran's gas market. The findings of this study reveal that while the technical prerequisites for such transactions are presently available, significant strides are needed in terms of legal and structural aspects. Notably, challenges arise from the presence of long-term contracts between the National Iranian Gas Company (NIGC) and neighboring countries, the monopolization of the country's natural gas industry's value chain by state-owned enterprises, incomplete unbundling of the mentioned chain, limited third-party access to pipelines and storage facilities, gas supply with subsidized tariffs, and the absence of a comprehensive law governing the integration of Iran's natural gas market. Overcoming these obstacles is imperative for enabling natural gas supply in the IRENEX and successfully implementing the gas supply program. Policy makers must carefully address these prerequisites to foster a conducive environment for gas trading within the energy exchange and pave the way for its effective implementation.
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