Iran signs €355 million Ethane extraction contract
Azerbaijan, Baku, August4 /Trend/
The National Iranian Gas Company has awarded an ethane extraction contract worth €355 million to a domestic consortium to implement ethane extraction at the Parsian Refinery, Mehr News Agency reported.
The first EP contract to construct ethane extraction from the Parsian refinery in a 25-month period is awarded to domestic contractors.
The project aims to refine ethane, propane, and butane, starting at 83 million cubic meters per day. The extracted gas will be transferred to a general gas network.
Part of the refined ethane, propane, butane, and gas condensate from Parsian refinery will be transferred to the Pars Special Economic Energy Zone (PSEEZ) for export to the international market.
The National Iranian Gas Company signed a $4 billion contract with bank Saderat for construction of the Bid Boland2 refinery and the Ethane extraction project at Parsian refinery during the last solar year (ending on March 20, 2011).
The National Iranian Gas Company owns 20 percent and bank Saderat owns 80 percent of these two projects.