Tehran: Addressing the III International Conference on Energy Efficiency and Consumption Optimization, Iranian Deputy Oil Minister Houshang Falahatian highlighted the critical need for substantial investment in energy optimization. He emphasized that without an annual investment of $30 billion from 2024 to 2028, Iran risks a serious imbalance between energy production and consumption.

According to Trend News Agency, Deputy Minister Falahatian pointed out the sharp increase in energy consumption in recent years alongside a lack of significant progress in energy optimization projects, which has resulted in considerable energy losses. This situation has led to a growing disparity between the amount of energy Iran produces and the amount it consumes.

“The approach of merely boosting the production of gas and petroleum is not a viable economic solution to overcome this disparity,” Falahatian stated. He advocated for reforms in both energy production and consumption practices to bridge the gap.

Furthermore, Fala
hatian underscored the necessity of maintaining current levels of oil and gas production, which involves the development of new fields, construction of new refineries, and expansion of pipeline networks. These measures, he noted, require substantial time and investment.

The conference, which began on October 14, has gathered international experts in Tehran to discuss strategies for enhancing energy efficiency and optimizing consumption over the course of two days.