Rise in Condensate Export Capacity

Rise in Condensate Export Capacity Rise in Condensate Export Capacity

Iran's gas condensate export capacity has increased 30 percent, reaching six million barrels a day, managing director of the National Iranian Tanker Company (NITC) said, Mehr news agency reported.

Currently three floating buoys are operating concurrently for the export of gas condensate from South Pars gas field and refineries across the country, Seyed Pirouz Moussavi said. Two floating buoys are operative in Assalouyeh gas terminal, and one other in Siraf terminal, providing the means for berthing of three very large crude carriers (VLCCs). The increase in loading capacity corresponds with a rise in gas condensate production in the South Pars gas field.

Iran is trying to capitalize on sales of oil products such as petrochemicals and condensates to make up for the drop in its oil sales. Oil and gas condensate production capacity is projected to exceed 5.7 million bpd by 2018. The main buyers of Iranian gas condensates are its traditional oil customers, namely China, India, South Korea, Turkey, Taiwan and Japan. There are also plans for the construction of eight gas condensate storage facilities in Assalouyeh, with a total capacity of 640,000 cubic meters. Upon construction of the facility, condensate export is projected to rise from the present 400,000 barrels per day to 1.2 million.