Oil Minister: Iran Ups LPG Export Over 50 Percent

February 3, 2023
oil and gas

TEHRAN (FNA)- Iranian Oil Minister Javad Owji said that the volume of liquefied petroleum gas export has increased by over 50 percent under the current government compared to the LPG export amount in the previous administration.

Answering questions, Owji said that the oil refineries produce 2.2 million tons of LPG and gas refineries are producing 5.6 million tons of LPG, adding that LPG production of petrochemical facilities stands at 4 million tons.

Fortunately, the amount of LPG export jumped more than 50 percent in the Rayeesi administration compared to his predecessor’s government, the oil minister said.

As to the peak of gas consumption in Iran, he pointed out that as a result of cooperation between people and the administrative entities, the oil ministry has been successful in maintaining gas flow of 26 million subscribers.

In relevant remarks earlier in Janauary, Deputy Head of Investment at the National Development Fund of Iran (NDFI) Mohammad Javad Danesh said that Iran is planning to carry out 20 oil and gas projects worth around $80 billion in a 10-year period.

He pointed out that like all national wealth funds in the world, NDFI intends to invest in economic projects as an investor.

“We will adjust the financing models to reach $80 billion with existing resources and with the forecast of future resources,” he added.

One of the 20 mega-projects on the agenda is the development of 12 gas fields in the South Zagros region, for which NDFI has signed a memorandum of understanding with the National Iranian Oil Company (NIOC) and exploration and development companies as a financier.

South Zagros is one of the largest gas producing regions of Iran, being billed as a future rival to South Pars. It has a production capacity of more than 220 million cubic meters of gas per day, or more than 30% of Iran’s gas equivalent to 9 phases of South Pars.


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