Faced with declining prices, and a market that Citi Research estimates could be oversupplied by as much as 28m tonnes of LNG by 2018, the last thing the industry needs is a flood of cheap Iranian gas to come on stream. Iran’s oil minister, Bijan Zanganeh, has already said that he wants to see his country exporting gas to Europe. But for that to happen the country will first need to attract the investment of international oil companies to build the giant facilities capable of freezing the fuel to a liquid before it can be loaded onto tankers.