Azernews.Az

By Sara Rajabova

Iran will establish its second oil export terminal in Jask island, ISNA reported referring to Akbar Torkan, the secretary of Iran's Free Trade Zones Coordination Council, on March 26.

Another oil export terminal is projected to be established in addition to the Kharg oil export terminal, which is located in the Persian Gulf, Torkan added.

A pipeline with the length of 2,200km transfers Iranian crude oil to the Sea of Oman shores. So, it is planned to establish oil storage and export facilities in the Kharg Island, Torkan explained.

Earlier, Managing Director of the Iranian Oil Terminal Company Pirouz Mousavi said the oil storage capacity of Kharg Island will reach 28 million barrels.

Currently, four oil storage facilities are under construction on the island, he said.
The facilities will come on stream at the cost of 420 billion rials (about $34.25 million).

Construction planning for these facilities began in January 2011. They are supposed to come on stream in 36 months, Mousavi explained.

According to media reports, Iran is storing millions of barrels of oil in tankers in its territorial waters as Tehran struggles with tougher Western sanctions on its vital seaborne exports.