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90% LPG Exported

90% LPG Exported90% LPG Exported

Iran exported 90 percent of its liquefied petroleum gas (LPG) production in the first 5 months of the present Iranian calendar year (started March 2014), IRNA reported.

Mehdi Jamshidi Dana, the supervision and coordination manager of the National Iranian Gas Company (NIGC) said 583,000 metric tons of LPG were produced while gas condensate production reached 10.5 million cubic meters during this period.

According to NIGC, 90 percent of Iran's LPG production is exported and the balance is consumed domestically.

After a few months of slow production, LPG production has picked up. According to resources in the shipping industry, significant cargoes of LPG are ready to be supplied to the Asian markets.

Iran's LPG exports to Asia reportedly hit a 152,000-ton-per-day low in August, but exports in September neared 300,000 tons per day, most of which were shipped to China and India.

Of Iran's total LPG exports in August, 132,000 tons were exported to China in 3 cargoes and 20,000 tons shipped to India.

Iran is to ship 6 more LPG cargoes to China amounting to 240,000 tons each and a 45,000-ton cargo to India in the near future.

LPG exports in April edged over 300,000 tons per day, followed by record-breaking 319,000 ton-per-day exports in May, almost equaling the country's LPG exports before the introduction of new sanctions by the EU in July 2012.

Iran resumed LPG exports in May 2013, 8 months after the new EU sanctions on insurance brought the country's LPG exports to a halt. Iran managed to produce 199,000 tons of LPG in May 2013.

 

Financialtribune.com