European leaders are working to find new sources of natural gas in an effort to break Russia's grip on the regional energy sector. With one of the largest gas reserves in the world, Zangeneh said Iran was ready to help.
"As a country capable of supplying gas in very big volumes, Iran is always willing to be present in Europe’s market, either through pipeline or in LNG form," he told the Oil Ministry's news agency Shana.
Iran lays claim to South Pars, a premier gas basin in the Persian Gulf. Zangeneh said Sunday several phases of the field should be on line in the coming years, though heavy investments are needed for development.
Any extra gas from South Pars could be available for export, Zanganeh said. Those prospects were raised with European leaders almost a decade ago.
"As far as I know, these talks have been halted and no chance was provided for the continuation of these talks in recent years," the minister said.
WTI, Brent search for traction
Shell: 'Slimmed-down' position creating value