‘Iran PSEEZ gas condensate exports rise 18% in value’

A senior Iranian business official says more than $7 billion worth of gas condensate was exported from the Pars Special Economic Energy Zone (PSEEZ) in the previous Iranian calendar year (ended March 20).

Director General of the PSEEZ Customs Department Khodadad Rahimi said on Thursday that Iran exported 8.85 million tons of gas condensate valued at $7.09 billion from the zone in the aforementioned period.

He said last year’s condensate exports from the zone rose by 18 percent in value and 8 percent in weight compared to the year before (ended March 20, 2013).

The official further noted that $7.266 billion worth of commodities, including PSEEZ products, were exported from the energy zone in the previous Iranian calendar year.

Rahimi stated that an overall 17.128 million tons of goods valued at $14.357 billion were exported from the PSEEZ in the last Iranian calendar year, marking a 2-percent growth in weight and 4-percent rise in value year-on-year.

He added that 325,774 tons of commodities, mostly equipment for the refining industry and chemicals, worth $2.28 billion were also imported via the PSEEZ in the previous Iranian calendar year.

The PSEEZ was established in 1998 for the utilization of South ‎Pars oil and gas resources and encouraging commercial activities in the field of oil, gas and ‎petrochemical industries.‎

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar’s territorial waters.

The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world’s reserves, and more than 18 billion barrels of LNG resources.