Iran halts LPG exports to Japan

TEHRAN, Jun. 08 (MNA) – APIC director general said despite stoppage of Liquefied Petroleum Gas (LPG) exports to Japan, every single ton of Iranian LPG has its own customer.

Director general of the Association of Petrochemical Industry Corporations (APIC) Ahmad Mahdavi touched upon the latest status of Iran’s LPG exports in the post sanction era saying “at the present, insurance issues and supplying of LPG carriers have been relatively solved as no limitation is perceived for the exports of the Iranian product.

The official, while confirming the cessation of LPG exports to Japan, asserted “currently, a myriad of customers are calling for Iran’s liquid gas to the extent that the demand exceeds the supply.”

Recalling that LPG exports is currently carried out through presale process due to high demand in the market, Mahdavi emphasized “one major obstacle facing LPG exports has been supplying of ships; however, during the past few months and following the removal of sanctions, some buyers of Iran’s liquefied gas have managed to receive the product through their own LPG carriers.”

APIC managing director further highlighted that “despite the termination of liquid gas exports to Japan, Iran’s LPG has its own customers.”

All oil sale contracts with Japanese refineries have been extended for the year 2016.

Moreover, following the negotiations with Japan’s Marubeni and Inpex, a new round of Japanese companies’ activities in Iran’s oil refinery industries have begun for investment and partnership in development of the country’s upstream oil and gas sectors.

In time with the resumption of activities by Japan Cooperation Center, Petroleum (JCCP) in the Iranian oil refinery industry, a fresh round of talks has been launched with the East Asian country’s JX Nippon Oil & Energy Corporation (NOC) over participation in the plan to reduce fuel oil production in Tabriz refinery.

 

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News Code 117206

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