Iran stops transiting Turkmen LPG in a bid to boost exports - report

Azerbaijan, Baku, Feb.19 / Trend F.Mehdi/

Iran has stopped transiting Liquefied Petroleum Gas (LPG) from Turkmenistan with the goal of increasing exports of domestically produced LPG to international markets, the Mehr News Agency reported.

Iran has boosted the production of LPG in its refineries and has officially stopped transiting Turkmen LPG.

"Under economic sanctions against the Islamic Republic, hiring foreign tankers for exporting liquefied gas has been made difficult, so exporting LPG to Iraq and Pakistan is economically justified in such a situation," Hamid Hosseini, the member of the Iranian oil, gas, and petrochemical exporters told Mehr.

LPG comprises propane and butane. Last solar year, Iran exported $2.06 billion worth of propane, and $1.3 billion worth of butane, according to Iran's Customs Organization, but new figures show that Iran's total propane export during the first eight months of the Iranian solar year (starts on March 20, 2012) is $900 million, and butane disappeared from Iran's first five non-oil export items list.

The country sold $3.5 billion worth of liquid petroleum gas (LPG) last year.

In August 2012, the Fars News Agency reported that the volume of LPG produced in different units across Iran has witnessed a 54 percent increase during the first four months of the current Iranian year (started on March 21).

According to manager of the National Iranian Gas Company (NIGC) for Coordination and Supervision of Production Mehdi Jamshidi, over 466,000 tons of Liquefied Petroleum Gas have been produced in Iran during the first four months of the current Iranian year, showing a 54 percent increase compared with the same period last year.

On January 14, the Pana News Agency reported that Iran has created infrastructures for swapping up to 6 million liters of oil products at northern regions of the country.

In recent years taking improper policies by the Iranian administration has reduced the volume of swaps to a great extent, so that some 6270 tons of liquefied gas has been swapped between Central Asia and Iran since the beginning of the current yea, compared with 21,188 tons in the past year.

National Iranian Gas Company Managing Director Javad Owji said in October 2102 that imports of natural gas from Turkmenistan into Iran have decreased by 52 percent over the first half of the current Iranian year (March 20-September 21, 2012) compared to the same period of last year.

In August 2012, deputy oil minister Alireza Zeighami announced that Iran has launched a liquefied gas swap route in the Caspian Sea.

The Mehr News Agency quoted Zeighami as saying that swapping other oil products, such as furnace oil, is currently underway with the Caspian Sea littoral states.

Between 15,000-30,000 barrels of crude oil is swapped per day despite sanctions against the Islamic Republic's oil industry, the official noted.

The EU banned importing Iranian crude oil and covering insurance for Iranian oil carrying tankers for European companies. EU insurance companies cover about 95 percent of tankers in the world.

The main reason is the Western sanctions on Iran's oil and petrochemical export sector, as well as the lack of LPG carrying ships in Iran. According to an OPEC report, Iran has only one LPG carrier with 12,000 cubic meters capacity.

EU companies that cover 95 percent of oil and petrochemical ships' insurance, have halted providing services for ships that transport Iranian oil or LPG.

Iran's Persian Gulf Bid Boland Gas Refining Company declares amount of revenues to be received
Iran's Persian Gulf Bid Boland Gas Refining Company declares amount of revenues to be received
Gas transportation in Iran expands
Gas transportation in Iran expands
Iran and Turkey's gas trade depends on future exploration in the Black Sea
Iran and Turkey's gas trade depends on future exploration in the Black Sea
Loading Bars
Latest
Moscow's death toll from confirmed coronavirus cases rises by 13 - crisis center
Turkey reports 1,538 new COVID-19 cases, 68 deaths
Tajikistan decreases export volumes to Kazakhstan
Police clash with protesters at anti-lockdown demonstration in London
Georgian PM: Our victory must be an economically strong, educated, fair and European state
Iran's Persian Gulf Bid Boland Gas Refining Company declares amount of revenues to be received
Uzbekistan’s car manufacturing company to issue shares for public offering
Trump says he will name Supreme Court successor to liberal Ginsburg 'without delay'
Commander of Azerbaijani Naval Forces comments on information in social networks about Turkish coordinating officer
Gas transportation in Iran expands
Two dead as destructive storm Ianos hits central Greece
Kazakhstan decreases goods export to Ukraine amid COVID-19
Iran and Turkey's gas trade depends on future exploration in the Black Sea
President: If Azerbaijan had been an independent country then, we could have become the richest country in the world
Poland reports over 1,000 new COVID-19 infections, record high since outbreak
CEC sets coronavirus-related safety guidelines for Election Day
China's economy remains resilient despite external risks, says Xi
Iran's Bahar Azadi gold coin price falling
Iranian Energy Exchange announces products to be on sale September 20
Azerbaijani energy minister stresses importance of co-op within OPEC + format
Ukraine becomes popular destination for Turkish citizens looking for job
General Inspection Organization of Iran strengthen monitoring of banks
Uzbek-Chinese Asia Trans Gas to buy coolant and lubricants via tender
President Ilham Aliyev: The activities of our oil workers serve the interests of the Azerbaijani people
Madrid residents facing localised lockdown doubt curbs will work
TikTok files complaint against Trump administration to try to block U.S. ban
Geostat: Milk, meat production up in Georgia
Germany plans reform to avoid bankruptcy wave due to corona
Turkey decreases value of trade with Turkmenistan
Iran`s Rana Plus car to be launched in October
Uzbek-Chinese Asia Trans Gas to buy air filters via tender
President Aliyev: Key part of Azerbaijan's economy associated with oil and gas sector, and this to be case for many years to come
Azerbaijani president: New phase beginning for Absheron gas condensate field
Azerbaijan confirms 177 more COVID-19 recoveries
EU's share in total import of Azerbaijan up
Azerbaijan's eight-month export of gourds shows uptick
Azerbaijani startup launches new project for automating calculations of repair services
Iranian official: neither side fulfills their obligations in nuclear deal
Iran reveals amount of loans issued to manufacturing enterprises
Update on ski resort construction in Uzbekistan
Azerbaijan expecting inflation decrease by end of 2020
Bank of Georgia raises funds from Citibank to finance trade
Azerbaijani community: Armenia to be held responsible for massacre in Khankendi (PHOTO)
Iranian President expresses concern over people ignoring health protocols
Deaths from coronavirus exceed 24,000 in Iran
Turkmenistan increases imports of steel from Turkey
Iran Export Guarantee Fund`s support for exporters doubles
Kazakhstan's cargo transportation volumes decrease
Trial of social distancing rules on 2 Iranian airlines
Turkmenistan’s Exchange to be transformed into joint-stock company
Buy/sell operation at Iran Mercantile Exchange disclosed
Capital of banks in Iran announced
President Ilham Aliyev attends groundbreaking ceremony of Absheron field offshore operations (PHOTO)
Prices of Azerbaijani oil fluctuate
IMF talks Georgia's investment potential
Defense Minister: Azerbaijan Army ready to suppress any provocations of Armenia, undertake strong retaliatory actions
SOCAR applying digital road map for using high technologies
Uzbek Agroindustry and Food Security Agency to buy laboratory equipment via tender
Production of several products in Iran climbs
Weekly review of Azerbaijan's precious metals market
SOCAR gives sneak peek of its new dev’t strategy
Weekly review of Azerbaijani currency market
Georgian Tbilisi to be host city for 2021 ADB’s 54th Annual Meeting
Azerbaijani FM receives head of International Committee of Red Cross Delegation (PHOTO)
IMF, Turkmenistan review indicators for country's state budget
Minister: Georgia shows signs of economic recovery
Active supply of Turkish cement to Italy amid pandemic recorded
Uzbekistan to include goods and services in Unified Electronic Catalog
Kazakhstan's oil & gas company opens tender to buy filter blocks
Azerbaijani Central Bank unveils number of borrowers with restructured loans
Georgia sees increase in COVID-19 cases
Production started at Uzbek gas condensate field
Japan, Uzbekistan to increase tourist flow between countries
Turkmen Ministry of Construction to purchase equipment from Italian company
Kazakhstan, Russia agree to resume mutual flights
Turkmenistan, Ukraine discuss trade, economic cooperation
Iranian currency rates for September 19
Number of coronavirus cases in Uzbekistan pass 50,000
Armenia violates ceasefire with Azerbaijan 36 times
Australia COVID-19 hotspot records fewest cases since June
Turkey summons Greek envoy over expletive headline against Erdoğan
E3 says Iran sanctions relief to continue beyond Sep. 20
Georgia sends armored medical evacuation vehicles to Indonesia
65 new COVID-19 infections reported in Kazakhstan over past day
UN, Kazakhstan intend substantially contribute to environmental resilience (INTERVIEW)
Japan's new PM Suga to meet with Pompeo in October
Chinese mainland reports 14 new imported COVID-19 cases
Brazil's COVID-19 death toll tops 135,000
French finance minister tests positive for COVID-19
Trump says he sees no reason to delay TikTok decision
Eleven more coronavirus patients die in Moscow in past day
Qatar reports 224 new COVID-19 cases, 122,917 in total
Kazakhstan's crude oil exports to India surge in 1H2020
Georgia to acquire 135 000 doses of flu vaccines in October
Istanbul introduces alternate working hours for public servants amid COVID-19 pandemic
Kazakhstan launches programming learning platform
UK PM Johnson says second wave of virus inevitable, new restrictions possible
Israel's daily new COVID-19 death cases hit record high
Iran, Russia stress promoting scientific, technological coop.
Kazakh company looking to establish medical cannabis production
All news