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Iran aims to double LPG output

Business Materials 9 May 2016 15:07 (UTC +04:00)

Baku, Azerbaijan, May 9

By Khalid Kazimov - Trend:

Iran has plans to double its liquefied petroleum gas (LPG) production in future, an Iranian oil official said.

"Completing the construction of the various phases of the South Pars Gas field will make country capable of doubling its LPG output," SHANA news agency quoted Safar Ali Keramati, deputy head of National Iranian Oil Company (NIOC) for crude oil marketing, as saying.

The removal of international sanctions has created a proper opportunity for Iran to increase its LPG production.

However, Iran did not lost its market share for selling LPG during the sanctions.

Over the recent years, the Islamic Republic has made efforts aimed at boosting its natural gas production via attraction of foreign investment in the South Pars gas field, located in Persian Gulf off the coast of the southern Iranian province of Bushehr.

The development plan of South Pars gas field has been divided into 29 phases, containing 40 trillion cubic meters of natural gas.

The huge offshore field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf, and the remaining 6,000 square kilometers are situated in Qatar's territorial waters.

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