Iran Taunts Europe With Gas In Exchange For Nuclear Deal

Though getting more Iranian gas into world markets might help to lower prices, experts have countered that Iran could not meet Europe's energy needs, writes Borzou Daragahi

-  Borzou Daragahi

Tehran teased a Europe agonising over an impending winter without access to Russian energy with the prospect of Iranian gas exports should Iran's nuclear deal with world powers be restored and sanctions lifted."Winter is coming," Iran's state-backed Mehr news agency proclaimed, needling European nations over the prospect of cold temperatures, strained heating-gas supplies, and the ensuing political fallout.

Tehran’s offer came as fears continued to grow across Europe of a desperate winter ahead, as Moscow uses its control of gas supplies to exert pressure on capitals across the continent in retaliation for sanctions imposed after the invasion of Ukraine.

On Friday, energy giant Gazprom, Russia’s state-controlled gas company, announced it was closing its Nord Stream 1 pipeline indefinitely because of “oil leaks”. That move was criticized, but it also meant that gas prices surged again yesterday, with benchmark prices shooting up 31 per cent, prompting further predictions of energy rationing and blackouts across Europe this winter.

Though getting more Iranian gas into world markets could help to lower prices, experts have countered that Iran cannot meet Europe’s energy needs any time soon, regardless of sanctions. Iran and the US, along with other world powers, are at a stalemate on talks to restore a nuclear deal, which would remove restrictions on business with Iran and allow consumers to purchase its gas.