Iran’s national gas company dismisses Bank Saderat from Bidboland-II project
Baku, Azerbaijan, May 26
By Fatih Karimov - Trend:
The National Iranian Gas Company (NIGC) has dismissed Sepehr Energy Company, affiliated with Bank Saderat, from implementing Bidboland-II Gas Refinery expansion project.
Sepehr Energy Company inked the Bidboland-II Gas Refinery expansion deal three years ago, but the company was dismissed due to repeated delays in work, Iran's IRNA news agency reported on May 26.
Sepehr Energy Company and NIGC had 80 percent and 20 percent shares in the project, respectively.
The Bidboland-II gas refinery is home to installations and pipelines intended to transfer 45 million cubic meters of sweet gas per day to the Port of Mahshahr in south of the country. It will boost the country's gas refining capacity by 57 million cubic meters per day. The refinery's output will also include 1.5 million tons of LPG and 400,000 tons of condensates, as well.
The Oil Ministry has already dismissed Sepehr Energy Company from Parsian Refinery's ethane production project, as well as from the development of Lavan gas field.
The first phase of the refinery's construction plan started in 2005, but construction was halted.
Construction was later resumed in February 2011, and it was announced that the project would come on stream 36 months from that time, according to Iran's Fars news agency.