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Iran plans to establish first national gas refinery

Business Materials 8 January 2013 16:12
The first gas refinery in Iran will be built by a domestic contractor, the Shana News agency reported.

Azerbaijan, Baku, Jan. 8 / Trend F.Mehdi/

The first gas refinery in Iran will be built by a domestic contractor, the Shana News agency reported.

The Khatam-ol Anbiya Construction Headquarters will ink a deal by the next month with the National Iranian Central Oilfields Company to start designing processes.

The gas refinery is due to be fed with some 20 million cubic meters of gas produced in Halgan and Sefid Baghoon fields.

The refinery will be developed in two phases and in the first phase the unit will refine over 20 million cubic meters of natural gas per day.

Iran's Oil Minister Rostam Qasemi said Iran has the capacity to produce 4 million barrels of crude and 600 million cubic meters of gas per day.

Referring to the fact that Iran possesses 12 percent of the world's oil reserves and 18 percent of its gas reserves, Qasemi said that, "The capacity to produce oil must reach 5.2 million barrels and gas production capacity must hit one billion cubic meters per day by 2015."

Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves.

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