VIENNA, July 23. /TASS/. Iran may start liquefied natural gas (LNG) supplies to Europe in 5-10 years, Iran’s Deputy Oil Minister Amir Hossein Zamaninia told TASS on Thursday.

Iran may increase gas production to 1.1 bln cubic meters daily by 2017 — official

The deputy minister said such option is more preferable than building a gas pipeline to supply gas to European nations.

Zamaninia said the price in Europe now is much lower than in South-East Asia and therefore there is no sense in pipeline gas supplies to Europe.

Europe may become the market for Iranian gas in the mid-term, the official said at the Iran/EU investment and trade conference.

Zamaninia said the EU always consumed Iranian oil. Europe may be a market for the Iranian gas in the mid-term and long-term, he added. The deputy minister said natural gas will remain the preferable energy source in the foreseeable future.

Iran and the EU may reach long-term relations in politics and the economy and in oil and gas sphere, Iran’s deputy minister said.