Iran may rank first in the world in terms of gas reserves following the discovery of a new reservoir in the Caspian Sea. The new gas reservoir was discovered 700-meters deep in the sea, with its reserves standing at 50 trillion cubic feet. In an effort Friday to increase pressure on Tehran over its disputed nuclear program, EU leaders called for more sanctions against Iran to be put in place by the end of January. Iran sits on the world's second-largest natural gas reserves after Russia, but international sanctions have frustrated plans to develop the country's gas sector for export, and booming domestic demand has made Iran the third-largest consumer of natural gas and a top-30 importer.