Iran plans to utilize the biggest phase of the South Pars gas field, namely the phase 12, before winter to prevent gas shortage in the country during the cold season, Tehran Times daily reported on Tuesday.

The phase 12 will come on stream by the end of the eighth Iranian calendar month of Aban (November 21), the project manager Rasoul Fallahnejad was quoted as saying.

Once the phase 12 comes on stream, it will inject about 75 million cubic meters (mcm) of gas into the national gas network per day, Fallahnejad said.

According to the report, Iran is currently producing 300 mcm per day of gas from the South Pars.

The project will bring in some 11 billion US dollars annually, which accounts for three percent of the country's GDP, Fallahnejad added.

Iran will boost production at its South Pars gas field by 100 mcm per day by the end of the current Iranian calendar year, ending on March 20, 2015, Iranian Oil Minister Bijan Namdar Zanganeh said on Saturday.

To fund development projects in the South Pars gas field, Iran's Pars Oil and Gas Company will issue about 800 million dollars worth of bonds in the current Iranian calendar year, according to the report.

The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf. It is one of the world's largest gas fields, shared between Iran and Qatar. According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensates.

This gas field covers an area of 9,700 square km, of which 3, 700 square km is in Iranian territorial waters called South Pars and 6,000 square km is in Qatari territorial waters referred to as North Dome.

Although Iran possesses one of the world's largest gas reserves, it has struggled for years to develop its oil and gas resources due to the withdrawal of foreign investors from its energy sector under Western pressure.

The European Union and the United States are in negotiations with Iran to ease oil and natural gas embargo which has served as part of the sanctions aiming to pressure Tehran to halt sensitive part of its controversial nuclear program.