Publishe Date: 6:45 PM - 8/2/2014 | Print

Iran to build biggest gas complex in ME: NIORDC

Economy - Iran is planning to build the largest gas complex in the Middle East, says an official with the National Iranian Oil Refining & Distribution Company (NIORDC).

Director of planning at NIORDC, Shahabeddin Metaji, said on Saturday that the megaproject involves the construction of eight gas condensate refineries along with some utility facilities as well as logistics and processing units at Siraf Refining Park in Bushehr Province in southern Iran.

“The products of these refineries will include liquefied gas, naphtha, jet fuel and diesel fuel in compliance with the European Union's Euro-4 and Euro-5 [emission] standards,” he added.

The official said Iran is in talks with the private sector as well as foreign companies to finance the project which is estimated to cost USD 2.4 billion.

He stated that the project, which is scheduled to start in three months, will be completed in four years.

Iran, which sits on the world's largest natural gas reserves, has been trying to enhance its gas production by attracting foreign and domestic investment, especially in its supergiant offshore South Pars gas field.

The South Pars gas field, which Iran shares with Qatar in the Persian Gulf, contains significant amounts of gas and condensate.

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