Iran says it found new gas reserves amid crisis

• Iran discovers major gas reserve in southern Fars province
• Reserves exceed 7.5 trillion cubic feet worth billions of dollars
• The find creates a new source of wealth for the country

Amid new sanctions threats from US President Donald Trump, Iran on Sunday announced a major gas discovery in the country's Southern Fars province. Tehran

said that they have discovered a major gas reserve – more than 7.5 trillion cubic feet (212 billion cubic metres) worth "tens of billions of dollars", Fars news agency reported. Iran's Oil Minister Mohsen Paknejad said around 5.7 trillion cubic feet (161 billion cubic metres) of the reserves in southern Iran’s Fars province are estimated to be recoverable, an amount equivalent to roughly 15 years of production from one phase of the South Pars gas field. Al Jazeera reported that the field also contains significant volumes of gas condensate and the combined resources would create “a new source of wealth for the country”.