Erika Johnsen:
Iran has the fourth-largest proven oil reserves in the world along with the second-largest proven natural gas reserves, and the international sanctions that have been crippling their energy-reliant revenue stream and economic growth (at least, they were until the Obama administration started lifting them in exchange for diddly squat, that is) have proven to be quite a nuisance — which is precisely why Iran has lately been taking the opportunity afforded by Russia’s aggression with Ukraine to remind the European Union that they have a whole bunch of ready reserves just waiting to be tapped. Europe gets about a third of its natural-gas supplies from Russia, a lot of which currently flows through pipelines in Ukraine; Europeans are starting to consider building up their import infrastructure and evendoing their own fracking, but in the meantime, the threat of future supply disruption still looms as a possibility as the EU tries to work with Russia to settle on a deal. Iran is hoping that this newfound focus on diversified supply sources to enhance energy security will create a new willingness in the EU to perhaps cut them some more slack on the sanctions:
Amid rising tensions between the European Union and Moscow over Ukraine, Iranian oil officials have repeatedly said Tehran is ready to supply natural gas to Europe, which currently gets 30 percent of its gas imports from Russia. …
But Iran may hope the energy offer will add incentives for lifting the international sanctions as Tehran and world powers hold talks in Vienna this week aimed at solving the nuclear crisis.
Ghoncheh Tazimi, a scholar at SOAS in London, says “Iran’s case has been somewhat strengthened with the Ukraine crisis” because Tehran is “able to shape the future energy market” and help Europe diversify away from Russia. …
Iranian Oil Minister Bijan Zangeneh said May 3 that “as a country that has the capacity to supply gas in large volumes, Iran is always willing to export natural gas to Europe via pipeline or in the form of liquefied natural gas (LNG).”