Thursday May 23 2024

Iran’s exports from South Pars jump

28 July 2014 13:15 (UTC+04:00)
Iran’s exports from South Pars jump

By Sara Rajabova

Iran's exports from its largest gas field South Pars has increased noticeably in the last Iranian calendar month (ended July 22).

An Iranian Customs official said Iran's year-on-year exports from the South Pars natural gas field increased by 49 percent.

Director General of PSEEZ Customs Department Khodadad Rahimi said on July 27, Pars Special Economic and Energy Zone (PSEEZ) exported nearly $1.822 billion worth of South Pars products to 29 countries, showing a 49-percent year-on-year growth in value, Press TV reported.

He added that zone's exports also added up to over 2.2 million tons, showing a 45-percent increase in terms of weight compared with the same period of last year.

Rahimi noted that major export destinations for the South Pars products during the aforesaid period included China, Japan, the United Arab Emirates, Russia, India, South Korea and Turkey.

South Pars gas field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar.

Besides, Iranian Oil Minister Bijan Namdar Zanganeh said 10 new refineries are expected to come on-stream in South Pars region in the south of the country.

Zanganeh said the refineries are to be constructed for phases 12, 15, 16, 17 and 18 of the massive South Pars offshore gas field.

He added that six new offshore platforms will also come online in the South Pars region.

Zanganeh predicted that Iran would add 100 million cubic meters per day of gas to its total production by March next year when new phases of South Pars will have become operational.

South Pars covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar's territorial waters.

The gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world's reserves, and approximately 18 billion barrels of condensate.

Iran holds around 33 trillion cubic meters of gas reserves, but it doesn't have the capacity to produce natural gas in excess of domestic need for export.

Latest See more