Iran News ...


8/18/06

Iran's South Pars gas production touches 119b cu.m.

TEHRAN, Aug. 18 (Mehr News Agency) - Gas production from South Pars (SP) field in southern Iran has reached 119 billion cubic meters of which 107 billion has been delivered to the National Iranian Gas Company (NIGC), managing director of SP Complex Homayun Shukohi said on Friday.

"Approximately 178 million barrels of gas condensates, 631 thousand tons of sulfur, and 351 thousand tons of propane have so far been offered to the nation's market and 45 percent of domestic gas consumption has been satisfied by existing three refineries. New refineries are on the way to increase this percentage," Shukohi added.

As to natural gas and LNG (liquefied natural gas) exports, he noted gas export in liquid form is a capital intensive venture and the so-called peace pipeline requires minimum of 1,000km of pipeline network to be laid through the Iranian territories, adding that natural gas is set at six dollars per 1,000 cubic meters based on the Persian Gulf market price.

Referring to the latest development on phases 6, 7 and 8, the managing director added, "With some slight delay, the phases are expected to come on stream by yearend (March 20, 2007) and the production capacity is to yield 120 thousand bpd of condensates and 1.5 million tons of liquefied gas as well as the same amount of ethane per annum."

South Pars is a common field between Iran and Qatar which holds eight percent of world's identified gas reserves with Iran's share estimated at one-third of the total.

... Payvand News - 8/18/06 ... --



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