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Iran shaping up as a potential gas play

BP says Iran has emerged as the largest holder of conventional gas reserves, overtaking Russia - though it hasn't exploited its reserves extensively. This is about to change.

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Analysts are bracing themselves for a fresh weakening in oil prices as a sanctions-free Iran ratchets up oil production, but its emergence as a player in the supply of fossil fuels is as much about gas as it is about oil.

THERE has been a gush of comments on an increased oil supply from Iran, with Teheran agreeing to rein in its nuclear ambitions. Its "framework" pact with six world powers may be completed by June, and the sanctions gradually withdrawn thereafter.

Iran has often said it will step up oil