Gas Condensate Deliveries Continue

Gas Condensate Deliveries ContinueGas Condensate Deliveries Continue

Iran is to adopt new approaches to increase the export of gas, said the executive director for international affairs at National Iranian Oil Company (NIOC).

"We are delivering oil and gas condensate to our foreign customers despite the sanctions on Iran's energy sector," Seyed Mohsen Ghamsari stated. "There is a high demand for Iran's gas condensate in the Asian and global markets."

 On the recent slump of gas condensate exports during recent weeks, the official explained that "the export reduction is not attributable to new US sanctions; rather, it is due to a seasonal drop in demand."

Noting that Iran's export capacity for crude oil is around 1 million barrels per day, Ghamsari said the amount of US light oil export is not enough to be able to replace Iran's oil or gas condensates, Mehr news agency reported.

"Besides exporting light oil to Asian markets, the Americans have also initiated measures to manipulate the oil price in the global market," Ghamsari asserted.

He rejected that mazut exports had stalled, stressing that "under current constraints, the export volume of oil, gas condensate, and petroleum products can only be considered normal."

On the export of gas condensates, Oil Minister Bijan Namdar Zanganeh, said Tehran does not recognize the oil sanctions. "Iran will resume its duty to sidestep the sanctions."

Regarding the designation of a further 25 companies within the US list of sanctioned entities, the minister dismissed the move. "It is mere propaganda," adding: "Sanctions on gas condensates have already been in place."

Iran's gas condensate export during last month dropped by 260 percent compared to the previous month.

According to the Custom Administration's monthly report published on Sept.2, Iran sold 1,965 thousand tons of gas condensate two months ago, but the figure fell to 759 thousand tons last month.

Iran considers gas condensate to be a non-oil commodity accounting for 30 percent of the country's total non-oil exports. However, if the condensates are to be recognized as ultra-light crude oil, then it would comprise approximately one third of Iran's total crude oil exports.