Steady Increase in SPGC Exports

Exports of gas condensates from the South Pars Gas Complex exceeded 76 million barrels in the last six months of the current fiscal year that ends in March 2017, managing director of company said on Saturday.

“Of the total output, i.e. in the region of 90 million barrels, 76 million barrels were exported to target destinations during the last six months,” Masoud Hassani was quoted as saying by Shana.

According to the official, the export volume shows 25% growth compared to the last year's corresponding period.

Referring to other SPGC exports, the official said 35 million tons of liquefied petroleum gas was supplied to international markets in the said period -- a 6% increase in comparison with the same period last year.

Hassani said the increase in exports not only translates into revenues for the country but also demonstrates the consistency in production of quality products to help meet the objectives of the Resistance Economy, which is a set of guidelines recommended by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei to curb dependence on oil earnings, promote local manufactures and enhance productivity.

Noting that SPGC has played a key role in the economic development of the Pars Special Economic Energy Zone, he said the gas complex accounts for 62% of the country's total gas supply.

Stressing on the complex's capacity to meet all domestic needs, Hassani noted that the company is now a major economic player "as it generates substantial revenue for the country."

Recalling that SPGC is making preparations to maximize gas production in the cold season, when gas consumption reaches peak levels across the country, he said, "The company's main technical systems have undergone complete overhaul. We will do our best to ensure the steady supply of natural gas to all households in the winter."

  Meeting Foreign Demand

Plans are underway to raise gas condensate exports to meet the increasing demand from foreign customers, according to Ali Kardor, CEO of the National Iranian Oil Company.

 "Iran, OPEC’s third-biggest producer, now exports 500,000 barrels of gas condensates a day."

"A gas condensate storage project with a capacity of four million barrels will come on stream in PSEEZ by March 2017," Amirmansour Haqverdi, director of the project said, noting that as soon as the utilities, including eight storage tanks, come on stream, South Pars gas refineries will be able to produce round the clock. Even if the manufactured gas faces export hurdles it can be converted into high value-added products such as quality gasoline. The stored gas condensates can be moved to target destinations via a pipeline and single point mooring.

PSEEZ was established in 1998 in South Pars and promotes the commercial activities of the oil, gas and petrochemical industries.

South Pars is the world's largest gas field, shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran's territorial waters in the Persian Gulf. It adjoins Qatar’s North Field, which measures 6,000 square kilometers. The field has a production capacity of 820 mcm/d and 1 mcm/d of gas and gas condensates respectively.