Iran energy markets long-term outlook 2020
US sanctions, the coronavirus pandemic and multi-decade low oil prices work hand in hand to squeeze oil exports to a low. Gas trade, too, has been shaken; the US is pressuring Iraq to stop gas and power imports, while Turkey is looking to cheap LNG. However, demand fundamentals and the respective strategic geopolitical relationships mean exports are likely to continue. The power sector is heavily gas dependent, but renewables will start to cut into gas' share of energy demand growth.