Iran needs $100 billion to revive natural gas industry

Iran needs $100 billion to rebuild it natural gas industry and has met with European energy companies about funding as an end looms to decades of international economic sanctions against the country, reports BloombergBusiness. The news service says the importance of Iran’s natural gas industry was underlined by recent data from BP Plc that showed Iran held its position as the nation with the largest proven gas reserves. Bloomberg also says that an official at the National Iranian Gas Compay recently said the country will “welcome and appreciate investment by (foreign) countries.” For more, read the full story.