Iran discovers large gas deposit in Caspian Sea - TV

MOSCOW. December 12. KAZINFORM A large natural gas deposit with reserves of 50 trillion cubic feet or 1.42 trillion cubic meters was discovered in the Iranian part of the Caspian Sea, Iran's Shama TV channel said on Sunday quoting country's Oil Minister Rostam Qassemi; Kazinform refers to RIA Novosti.

Qassemi said that reserves of the new deposit at a depth of 700 meters exceeded a total volume of proven gas reserves of 11 trillion cubic feet in the country's part of the Caspian Sea by almost 400 percent.

Iran's gas reserves are the second largest in the world after Russia's and amount to about 16 percent of all world reserves; Kazinform cites RIA Novosti.

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