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Iran to store 2 billion cubic meters of gas in Sarajeh facility

Oil&Gas Materials 15 June 2014 11:05 (UTC +04:00)

Tehran, Iran, Jun. 14

By Milad Fashtami - Trend:

Iran will store 2 billion cubic meters of gas in the country's Sarajeh gas storage facility by the end of the current Iranian calendar year [March 20, 2015].

Iran's Natural Gas Storage Company's Managing Director Masoud Samivand said on June 14 that currently some 7 million cubic meters of gas could be extracted from the facility, Iran's Mehr News Agency reported.

"Iran's gas storage capacity currently stands at 8 billion cubic meters,' he said.

"Currently over 7 million cubic meters of gas per day is being pumped to the facility," he said, adding that some 13-15 million cubic meters of gas can be extracted from Sarajeh gas storage facility in winter.

"Some 10-15 million cubic meters of gas can also be extracted from Shoorijeh gas storage facility in winter," Samivand noted.

Iran plans to increase its gas storage capacity by the end of the current Iranian calendar year, which started on March 21.

Iranian oil minister has ordered the related bodies to do their best to achieve the goal, Iran's IRIB News Agency reported on April 20.

Currently, only Sarajeh gas storage facility is active in Iran.

Samivand said on May 20 that the Sarajeh gas storage facility pumped over 662 million cubic meters of gas to the national gas network in winter.

"Currently 375 million cubic meters of gas is being stored in the facility," he said.

"The country save some $350 million by storing gas in the facility and pumping it to the national gas network in the cold months," Samivand explained.

Shoorijeh gas storage facility is expected to come on stream by the end of year.

The Shoorijeh gas storage facility, located at the northeastern province of Khorasan Razavi, has the capacity to store 4.8 billion cubic meters of natural gas. Iran will store extracted gas from the joint gas fields, especially the giant South Pars field, in the facility.

Once the facility comes on stream Iran becomes one of the world's top five countries in terms of gas storage facilities.

"The project will come on stream at the cost of two trillion rials (some 163.1 million dollars based on the official rate of USD and 66.6 million dollars based on the free market's price) which is 10 percent less than the anticipated figure," Samivand added.

The United States of America with 121 billion cubic meters ranks first in the list. Iran currently stands at the 19th place.

Iran will also become the Middle East's biggest owner of gas storage facilities.

Samivand said on Feb. 21 that based on global standards, Iran needs to store around 10 to 15 percent of its total consumption which is equal to 15 billion cubic meters.

"It is while the country's gas storage capacity is currently around 1.3 billion cubic meters," he added.

According to BP's latest yearly report, Iran's dried gas output is about 160 bcm, a little more than domestic consumption level.

Iran exported 7.5 bcm of gas to Turkey and imported 4.5 bcm gas from Turkmenistan in 2012, according to BP's report.

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