The Prerequisites for International Spot Sales of Natural Gas in the Iran Energy Exchange

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, the spot sale of up to 10 billion cubic meters of natural gas was envisioned following the approval of the budget law of 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 requirements 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 companies, 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 plan. policymakers must carefully address these prerequisites to foster a conducive environment for gas trading within the energy exchange and pave the way for effective implementation.