Iran to invest $11 billion in construction of 10 NGL production units
Tehran, Iran, May 28
By Milad Fashtami - Trend:
Iran plans to invest $11 billion in construction of 10 Natural Gas Liquids (NGL) production units.
Once the units come on stream, over 2,600 million feet of gas produced in oil fields will be gathered and processed, Iran's SHANA News Agency reported on May 28.
The units' final products are scheduled to be fed to Bandar Imam and Mahshahr Special Economic Zone's petrochemical units, as well as new petrochemical units such as Dehloran.
Iran has so far invested some $700 million in a NGL unit in Kharg Island.
The unit is expected to come on stream at the final cost of 1.5 billion euros.
Iran has the world's fourth-largest proved national reserves of oil - most of it cheap to produce - and is home to the biggest proved reserves of natural gas, some 18 percent of the global total.
According to BP's latest yearly report, Iran's dried gas output is about 160 bcm, a little more than domestic consumption level.
Iran exported 7.5 bcm of gas to Turkey and imported 4.5 bcm of gas from Turkmenistan in 2012, according to BP's report.