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SP Set for Further Gas Output Rise

SP Set for Further Gas Output RiseSP Set for Further Gas Output Rise

Gas production from South Pars gas field will surge by 120 million cubic meters per day before the end of the current Iranian year (ends March 20), IRNA reported Monday.

The offshore output of the giant gas field will increase dramatically as Phases 12, 15, and 16 become fully operational, the report noted, adding that construction and installation of seven platforms have been completed on five phases of the gas field.

Gas export capacity will increase by 150 million cubic meters per day (mcm/d) in the next three years, the National Iranian Gas Company (NIGC) has said.

The growth in export capacity is anticipated following the 100 mcm/d increase in gas production from the South Pars gas field.

Iran intends to increase gas trade with its neighbors, since the long-term essence of gas export contracts  could result in strengthened trade and political ties.

The domestic gas production is expected to reach the target of 200 mcm/d by the end of next year (March 2016). The number is planned to increase to 1,300 mcm/d in 2018, once the development projects currently in hand are completed. Seven phases of the South Pars gas field are projected to go on stream by March 2016.  

Financialtribune.com