Huge 1.42tcm Caspian Discovery Announcement Strains Credibility

BMI View: The announcement of a 1.42tcm gas discovery in the Caspian Sea could, if verified, catapult Iran to the top of the global league table in terms of gas reserves. However, although prospectivity is high in the Caspian, low recovery rates and doubts over the credibility of recent announcements make a significant upward revision in Iran's proven gas reserves unlikely.

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