Iran gas condensate export likely to surge in 2021 2nd half

TEHRAN, Jun. 12 (MNA) – Informed sources say that if all sanctions are lifted in the second half of 2021, Iran's gas condensate will take over the market and Iran can export 3,730,000 metric tons of condensate during this period.

According to informed sources, Iranian exporters intend to increase LPG exports to full capacity if sanctions are lifted, which would increase shipping costs by increasing supply from the Middle East.

Assuming the complete lifting of US sanctions in the second half of 2021, Iran can export 3,730,000 metric tons in this period and will need at least 33 ships to transport it, the sources added.

The lifting of sanctions will allow Iran to export gas condensate, which is a very light oil with a higher profit margin, and this will put price pressure on the naphtha market in Asia.

South Pars condensate is expected to be priced competitively, allowing petrochemical producers to obtain cheaper edible naphtha from these condensates.

According to these sources, Iran used to sell gas condensate to final buyers in South Korea, which will affect other types of naphtha if the resumption of Iranian gas condensate to the market resumes.

As soon as Iran and the United States agree, Iran can export oil products, and this will definitely affect the naphtha market, said an informed source in Singapore.

ZZ/FNA14000322000563

News Code 174681

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