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Iran exporting South Pars products to 29 countries

Business Materials 24 December 2014 11:46 (UTC +04:00)

Baku, Azerbaijan, Dec. 24

By Fatih Karimov - Trend: Iran is currently exporting products of the South Pars gas field to 29 countries.

Mehdi Yousefi, Managing Director of Pars Special Economic Energy Zone, said some $13 billion worth of products were exported from South Pars in the first nine months of the current Iranian Calendar year (March 21-Decemebr 21), a 30 percent rise compared to the same period last year, Iran's IRNA news agency reported on Dec. 24.

More than 16 million metric tons of products, mainly light and heavy polyethylene, methanol, butane, diethylene glycol, propane, gas condensate and cement were exported from the zone, a 26 percent increase year on year.

Iran earns $56 billion annually from the South Pars gas field.

Masoud Hassani, Managing Director of South Pars Gas Company, said on Dec. 19 that some 270 million cubic meters of gas, 400,000 barrels of condensates, 1,000 metric tons of sulfur, and 5,200 metric tons of ethane is produced in the gas field, which are valued at $56 billion.

The figure will hit $167 billion by March 2018, he said.

Some 50.716 billion cubic meters of gas was extracted from the gas field in the first half of the current year, compared to 42.299 billion cubic meters in the previous year, he added.

The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. It is estimated that the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensate.

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