Pars special zone’s gas condensate exports rise

TEHRAN, Mar. 16 (MNA) – Pars Special Economic Energy Zone (PSEEZ) in southern Bushehr province exported over 1.43 million tons of gas condensate to global markets during the past Iranian month (Jan. 21- Feb. 19), a senior official said.

Director General of the zone's customs department, Ahmad Pourheidar, said despite the US’ withdrawal from Iran nuclear deal in May, accompanied by pressure and threats to prevent its sale of Iranian oil and gas condensate, PSEEZ’s condensate exports during the past month increased 9% and 15% in terms of volume and value in comparison with the corresponding period of last year.

PSEEZ, located along the coasts of the Persian Gulf and some 570 kilometers west of the port city of Bandar Abbas, is one of the major petrochemical hubs of the country.

More than 3 million tons of non-oil commodities worth $1.298 billion were exported from PSEEZ during the 30-day period, indicating a 13% increase in volume Year on year. The zone's products include ethylene glycol, urea, butane, propane, p-Xylene, monoethylene glycol, triethylene glycol, low-density and high-density polyethylene, natural-gas condensate, petroleum heavy ends and cement.

The region is one of the main hubs under South Pars Gas Field in the Persian Gulf. South Pars is the world's largest gas field shared between Iran and Qatar in the Persian Gulf. The giant deposit, which is being developed in 24 phases, provides about two-thirds of Iran's natural gas output.

The field holds an estimated 51 trillion cubic meters of gas and some 50 billion barrels of gas condensate.

Iran's condensate output is slated to reach 1 million barrels a day upon the launch of all phases of South Pars. But Tehran has said it wants to reduce the outbound shipments of condensates and instead use fossil fuel for manufacturing goods with higher value added.

MR/IRN83244759

News Code 143434

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