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Iran starts exporting liquid gas exports to European countries

Business Materials 29 October 2014 15:56 (UTC +04:00)

Tehran, Iran, Oct. 29

By Milad Fashtami - Trend:

National Iranian Oil Company's Director of International Affairs Seyyed Mohesen Qamsari said that Iran has started exporting liquid gas (LPG) to European countries.

"Iran has started exporting single cargos to certain countries,' he said, Iran's Mehr News Agency reported Oct. 29.

"Iran is currently exporting all its surplus liquid gas," Qamsari said, adding that the country is facing no problem in this regard.

He went on to note that Iran averagely exports 100,000 metric tons of liquid gas per day to different countries.

"South Korea is the main importer of Iran's liquid gas," the official said, noting that East and Southeast Asian countries are the biggest importers of Iran's liquid gas.

Ali Mohammad Bosaqzadeh, an official with the National Petrochemical Company (NPC), previously said that Iran's liquid gas exports have been on the rise in the past three months.

"There isn't even a single unsold cargo stored in the storage facilities," he said.

International sanctions imposed on Iran, has negatively affected the country's oil exports in the past few years.

Iran confirmed that the first oil cargo was exported to Italy in July
The European Union banned importing oil from Iran in July 2012, but Italy was allowed to import Iranian oil due to Iran having debts to the country.

Qamsari, previously confirmed that Iran exported crude oil to Itany's Eni company.
However, he rejected that Iran has $2 billion worth of debts to Eni, Shana news reported on Oct.17.

This is while the Wall Street Journal reported on Oct.15 that Italian oil giant Eni SpA took delivery of what is believed to be the first tanker of Iranian oil to Italy in two years in July as part of an existing exemption agreement.

The report says the delivery was made as part of an exemption clause in the European Union's ban on Iranian oil that was granted to Eni as part of a debt repayment. In 2012, Iran owed $2-billion-worth of crude oil for services rendered on the development of an Iranian oil field.

The move underscores a slight easing in heavily restricted trade between Iran and the West following an interim nuclear agreement in November 2013.
Eni had previously struggled to find tankers to take Iranian oil because of broader sanctions against the country.

In its monthly oil market report, the International Energy Agency said Italy had imported 20,000 barrels a day of Iranian oil in July. The delivery is the first since June 2012-that came on the eve of an EU embargo which started the following month.

Italy's refiners' association Unione Petrolifera confirmed the shipment-equivalent to a tanker of 600,000 barrels-in its latest report published on its website at an undisclosed date, the Wall Street Journal reported.

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