Non-oil exports from South Pars Gas Field off the Persian Gulf in the third month of the fiscal year (May 22-June 21) showed a 23% increase in volume compared with the same period of last year, the head of customs office of Pars Special Economic Energy Zone said on Wednesday.
“Iran exported over 1.5 million tons of petrochemical products and gas condensates from South Pars, worth more than $706 million,” IRNA also quoted Ahmad Pourhaydar as saying.
“This indicates a 23% rise in the volume of exports and a 2% hike in value compared with last year,” he added.
Pourhaydar said domestic petrochemical industry is showing an upward trend in exports, despite the new US sanctions.
The United States reimposed sanctions in November on Iranian oil exports after US President Donald Trump last spring unilaterally pulled out of a 2015 accord between Iran and six world powers.
The US also hit Persian Gulf Petrochemical Industries Company with economic sanctions last month to choke off financing to PGPIC, as it is the country’s largest and most profitable petrochemical group, which has 39 subsidiaries and several foreign-based sales agents.
The world’s largest gas field shared between Iran and Qatar, South Pars is the heart of energy production in Iran. It is also the non-oil export hub for petrochemicals and gas condensates.
In addition to the giant gas field, the PSEEZ is home to 16 petrochemical plants that produce 20 million plus tons of petrochemicals a year mainly for export markets.
Data related to 2018 show a rise in the production of a variety of byproducts, namely ethane (42%), liquefied petroleum gas (35%) and sulfur (35%), compared with the year before.
South Pars accounts for 96% of LPG, 100% of ethane and 55% of sulfur produced in the country.
The gas field was developed in 24 phases, of which 22 are operating and Phase 14 is being completed. Phase 11 has not been developed yet. Gas production in the field has reached 620 mcm per day.
