Gas condensates to be sold on Iran Energy Exchange

Oil&Gas Materials 23 June 2014 15:16 (UTC +04:00)

Baku, Azerbaijan, June 23
By Fatih Karimov - Trend: Gas condensates will be sold on Iran Energy Exchange in the next 45 days.

Iran Securities and Exchange Organization Director, Ali Salehabadi, said that gas condensates produced from the South Pars gas field will be offered on the Exchange without limitation, Iran's IRIB reported on June 23.

Liquefied nitrogen and light furnace oil will be also sold on the Exchange, he added.

Managing Director of Iran Energy Exchange, Ali Hosseini, said in April that the Exchange has the potential to play a pivotal role in determining oil price in the region.

He explained that since Iran is an oil-rich country, the country's energy bourse has the potential to increase supplies from current 3,000 b/d to 10,000 b/d.

Iran aims to prepare the ground for the presence of foreign buyers of the crude oil in energy exchange and diversify the products supplied to buyers including gas condensates, Hosseini noted.

The first crude oil transaction at Iran energy exchange took place on April 6. Two private refiners bought 2,920 barrels of crude oil at 3.06 million rials per barrel.