BAKU, Azerbaijan, July 3. Iran's South Pars Gas Company (SPGC) will earn $250-$300 million in annual income with the ethane production in 9 gas refineries, Iranian Oil Minister Javad Owji said, Trend reports.
He made the remark at an event dedicated to the signing of a memorandum on increasing ethane production between Iran’s South Pars Gas Company and Tadbir Energy Development Group in Tehran on July 3, 2023.
The minister noted that on average, 1.1 million tons of ethane will be produced per year based on the memorandum on increasing ethane production. Operations to increase ethane production will begin within the next 2 months.
Owji also added that the revenue obtained from the sale of the produced ethane will be spent on increasing the ethane production, implementing projects of great importance and building plants for the production of special medicines.
On July 3, the CEO South Pars Gas Company (SPGC), Ahmad Bahush, and, Director of the Tadbir Energy Development Group, Hamid Reza Khalili signed a memorandum on increasing ethane production at South Pars Gas Company .
Iran’s South Pars Gas Company has capacity to produce 15,500 tons of ethane per day. A certain part of the produced ethane is sent as fuel to Iran's Morvarid Petrochemical Company, Kavian Petrochemical Company and Jam Petrochemical Company.