EconomyIran

South Pars Company Gains Nearly $1bln from Gas Exports in 6 Months

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The exports revenues of Iran’s South Pars Gas Complex Company have considerably increased in the first half of the current Iranian year (March 21-September 22), the company’s Managing Director Massoud Hassani announced.
“The South Pars Gas Complex revenues has hit $989 million by producing more than 1.6 billion cubic meter of gas in the first six months of the current year and exporting the same,” Hassani said on Thursday.

He said that the company’s propane production was up 272% year-on-year while butane production showed 59% increase in the first half of the current year .

In August, Customs Director General of the Pars Special Economic Energy Zone (PSEEZ) Khodadad Rahimi announced that Iran is exporting products of its South Pars refineries to Asian, European, African and American nations.

“We are exporting the products of South Pars to one American and six European countries,” said.

He also pointed to Tanzania, Ghana, Mozambique and Kenya as major African destinations of South Pars products, and said, “China, Japan, India, Thailand, Malaysia, Vietnam, Afghanistan, Pakistan and the Philippines are among the Asian buyers South Pars products.”

Rahimi referred to Mexico as the American destination for South Pars products, and said, “Russia, Ukraine and Turkey also are among the European destinations of the energy zone.”

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.‎

The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. The field is estimated to contain 14 trillion cubic meters of gas and 18 billion barrels of condensates.

The field covers an area of 9,700 square kilometers, 3,700 square kilometers of which lie in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. North Dome, are located in Qatar’s territorial waters.

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