Azerbaijan, Baku, June 27/Trend M. Moezzi
Iran will construct a new terminal for exporting 1.2 million barrels of gas condensates.
As more phases of its joint South Pars gas and oil field become operational and gas condensates' production grows, Iran has to prepare the infrastructure for its exports, Pana news reports.
To that end, a new terminal will be built in the Pars Special Economic Energy Zone (Assaluyeh), according to Seyed Pirouz Mousavi the head of the Iranian Oil Terminals Company.
Iran continues its race to develop the joint South Pars oil and gas field, with contractors in the 24th month of a 35-month timeline to make their phases operational as mandated by the National Iranian Oil Company.
Iran and Qatar share the South Pars gas field. The Iranian portion which is divided into 29 phases, accounts for about 14 trillion cubic meters of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.
Qatar began work on South Pars ten years before Iran and has intensified developing the field while Iran has suffered setbacks from international sanctions and technical and financial obstacles.
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