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Iran Returns to Global Energy Market: Issues and Prospects

Iran Returns to Global Energy Market: Issues and Prospects Iran is set to join the global energy market with the signing of the Joint Comprehensive Plan of Action in July 2015. However, the new geography of energy is changing the power dynamics in global energy market taking away the leverage from the traditionally dominant Middle East. Moreover, OPEC envisages severe loss to its share in the global energy market by 2020 and the intra-regional conflicts are further fuelling uncertainties and radicalization. Nevertheless, hydrocarbon will continue to be the principal component of global energy mix and Iran, which has the fourth largest reserves of oil and the second largest deposits of natural gas, will remain an important player but it will require a huge investment and technological support from the external suppliers to monetize its energy assets. Thus, a new script is going to be framed, that of energy-geopolitics equation, but, ironically, Iran will not be its lead author. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Contemporary Review of the Middle East SAGE

Iran Returns to Global Energy Market: Issues and Prospects

Contemporary Review of the Middle East , Volume 3 (1): 13 – Mar 1, 2016

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References (26)

Publisher
SAGE
Copyright
© 2016 SAGE Publications India Private Limited
ISSN
2347-7989
eISSN
2349-0055
DOI
10.1177/2347798916633290
Publisher site
See Article on Publisher Site

Abstract

Iran is set to join the global energy market with the signing of the Joint Comprehensive Plan of Action in July 2015. However, the new geography of energy is changing the power dynamics in global energy market taking away the leverage from the traditionally dominant Middle East. Moreover, OPEC envisages severe loss to its share in the global energy market by 2020 and the intra-regional conflicts are further fuelling uncertainties and radicalization. Nevertheless, hydrocarbon will continue to be the principal component of global energy mix and Iran, which has the fourth largest reserves of oil and the second largest deposits of natural gas, will remain an important player but it will require a huge investment and technological support from the external suppliers to monetize its energy assets. Thus, a new script is going to be framed, that of energy-geopolitics equation, but, ironically, Iran will not be its lead author.

Journal

Contemporary Review of the Middle EastSAGE

Published: Mar 1, 2016

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