Iran has exported 1m barrels of gas condensate to Europe for the first time since the end of sanctions on January, Middle East Monitor reported.
South Pars Gas Complex’s Managing Director, Masoud Hassani, said that the cargo of condensate can be used to make both fuel and plastic. He added that South Pars Gas Complex has produced over 125m barrels of gas condensate over a period of eight months starting 20 March 2016. This represented an 18m barrel increase when compared to production during the same period in 2015, according to PressTV.
Hassani stated that the majority of condensate produced in South Pars Gas Complex has been exported to Asia. In mid-July, it was reported that Iran’s bulk sales to South Korea of combined imports of crude oil and condensate grew by 115%.
Furthermore, Iranian officials have announced plans to build at least eight new condensate refineries in Pars Special Economic Energy Zone. This is meant to prevent further sales of raw material in favor of selling the end products. Once fully operational, the eight refineries will have a production capacity of 24,800b/d of condensate. Other key products include 128,000 barrels of light naphtha, 148,000 barrels of heavy naphtha, 29,600 barrels of aviation fuel and 149,600 barrels of diesel.