Baku, Azerbaijan, Sept. 25
By Elnur Baghishov - Trend:
Iran needs more than $8 billion for flare gas recovery, Iranian Oil Minister Bijan Zanganeh said on the sidelines of a meeting of the Iranian Parliament’s Energy Committee, Trend reports via the website of the Iranian Parliament’s website.
He said that flare gas recovery projects have been launched this Iranian year (started March 21, 2019).
He added that these projects will be commissioned in two years (until March 21, 2021) and one additional project will be completed by 2022.
“With the implementation of these projects, flare gas recovery will reach 90 percent,” he said.
He noted that gas flaring has declined, adding that however, some processing plants lack equipment.
Several types of equipment were purchased, but the Iranian Oil Ministry didn’t receive them because of the US sanctions, he said.
“The flare gas recovery at the Bid Boland Gas Treating Plant will start at the end of this year,” he noted. “The Persian Gulf Petrochemical Industries Company has invested $3.5 billion for this project.”
The US imposed sanctions on Iran in November 2018, and these sanctions were subsequently expanded in several stages.