Iran overtakes Qatar in South Pars with new gas phases
Tehran (KNA) - Iran on Sunday will launch four new development phases of the world’s largest gas field at South Pars with a capacity to produce 112 million cubic meters per day, the Ministry of Petroleum says.
President Hassan Rouhani will travel to Bushehr in the Persian Gulf to inaugurate two refineries built with $10 billion of investment. With their launch, Iran's daily gas production will surpass that of Qatar with which it shares the offshore field.
The $5 billion refinery for phase 13 is fully operational, with the first shipping of its gas condensate delivered on March 11 for export, the project's operator Payam Motamed said. Another refinery for phases 22, 23 and 24 will come online Sunday.
Each plant has a capacity to process 56 million cubic meters of gas per day and convert it to LPG, ethane, condensate and sulfur worth $5.5 billion a year at the going market prices, the ministry's Shana news outlet said. The revenue, it said, will account for 2 percent of Iran's GDP of some $427 billion.
Iran has divided development of South Pars to 24 onshore phases, all of which are now operational except for phase 11 and 14.
Source: PressTV