On September 6, 2025, a syndicated financing contract was signed at MAPNA’s headquarters with representatives of the lending banks.
The deal follows collaborative efforts by MAPNA’s economic and financial department, oil & gas division, and Shurijeh Company, meeting all bank collateral and approval conditions.
The Shurijeh D initiative stands as Iran’s—and West Asia’s—largest natural gas storage project. Awarded under a Build-Operate-Transfer (BOT) agreement in 2020, the project tasks MAPNA with developing the Shurijeh D reservoir at the Khangiran gas field, near Sarakhs in Khorasan Razavi Province.
Its goals are reducing seasonal gas supply gaps, strengthening energy security, and enhancing resilience of the national gas network.
So far, about 57 percent of the project’s physical construction has been funded internally by MAPNA. However, to continue progress, MAPNA negotiated a $268 million foreign-currency facility from the National Development Fund in 2024, ultimately securing final approvals late that year following extensive interactions with Bank Tejarat and Bank Mellat. The total contract value is estimated at $655 million.
This financing agreement opens the path to final completion and operational launch of Iran’s largest gas storage infrastructure. The storage facility will help store surplus gas during warmer months and release it during winter shortages.
