Iran burns over 81 bcm of associated petroleum gas in over 5 years
Baku, Azerbaijan, Oct.22
By Fatih Karimov - Trend:
Over 81 billion cubic meters of associated petroleum gases were burnt in Iran between 2007 and 2012.
Considering the price of 30 cents for each cubic meter of gas, it is found that burning of associated petroleum gases incurred $24 billion loss to the country over the 5-year period, Iran's Shana news agency reported on October 22.
Burning associated petroleum gases also causes environmental damages for Iran as well.
In recent years, the National Iranian Oil Company has implemented many plans to collect associated petroleum gases at onshore and offshore oilfields and use them as feedstock to petrochemical units and gas-fired power turbines.
The Iranian Oil Ministry has developed a five-year plan to implement about 300 projects to collect associated petroleum gases from oilfields.
Mohammad Hossein Ardeshiri of the Iranian Oil Ministry, said on September 9 that associated petroleum gases can bring benefits for the country, but they are flared up and burden the nation with huge losses instead.
Meanwhile previous reports indicate that Iran will invest $11 billion to collect associated petroleum gases and establish natural gas liquids (NGL) plants.