16 Jul 2024
Friday 28 March 2014 - 20:06
Story Code : 90909

Iran launches 1st floating gas condensate export terminal

Iran launches 1st floating gas condensate export terminal

[caption id="attachment_90910" align="alignright" width="180"] This file photo shows the floating Iranian gas condensate export terminal in the Persian Gulf waters.[/caption]
A senior Iranian energy official says the Islamic Republic has launchedits firstfloating gas condensate export terminal in the Persian Gulf waters.

Managing Director of the Iranian Oil Terminals Company (IOTC) Seyyed Pirouz Mousavi said on Thursday that the terminal, which facilitates the export of 600,000 barrels of gas condensate per day, can help Iran boost its capability to export both crude oil and condensate, Mehr news agency reported.

He went on to say that the launch of the floating gas condensate export terminal has eased gas condensate exports from the Pars Special Economic Energy Zone (PSEEZ), and reduced the costs and time of condensate delivery to potential buyers in the Persian Gulf.

On January 28, Director General of the PSEEZ Customs Department Khodadad Rahimi said that Iran exported 878,631 tons of gas condensate worth USD 764.786 million from the zone in the Iranian calendar month of Dey (December 22, 2013 January 20, 2014).

He said condensate exports from the zone rose by 272 percent in value and 278 percent in weight compared to the corresponding period in the last Iranian calendar year (ended March 20, 2013).

Rahimi added that gas condensate accounted for 64 percent in weight and 62 percent in value of the entire commodities exported from the PSEEZ, adding that the main destinations for the Iranian condensate were China, Japan, the United Arab Emirates, India, Indonesia, the Netherlands, Belgium, Spain, Turkey, Romania, Taiwan, Thailand, Malaysia, Vietnam, and Afghanistan.

The PSEEZ was established in ??1998?? for the utilization of South ?Pars oil and gas resources and encouraging commercial activities in the field of oil, gas and ?petrochemical industries.?

The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. The field is estimated to contain 14 trillion cubic meters of gas and 18 billion barrels of condensates.

South Pars is part of a larger field that covers an area of 9,700 square kilometers, 3,700 square kilometers of which lie in Irans territorial waters in the Persian Gulf (South Pars). The remaining 6,000 square kilometers, i.e. the North Dome, are located in Qatars territorial waters.

By Press TV



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