Iran to Build LP Gas Storage Facilities Abroad
TEHRAN (Tasnim) – An Iranian energy official said the country is weighing plans to set up liquefied petroleum gas (LPG) storage facilities in some target countries to resolve problems in the exports.
The CEO of the Iranian Gas Commercial Company (IGCC), Mohammad Ali Barati, told the Tasnim News Agency that Iran’s “special conditions” require that storage facilities are constructed in the target countries to counter the possible problems in the export of LPG.
He said Iran’s private sector will be assigned the task of building the storage facilities, and the National Iranian Gas Company (NIGC) will lease those facilities under a contract.
Asked about the countries where Iran might set up LPG storage facilities, Barati cited China (because of high consumption), Oman (with the aim of exporting LPG to Pakistan and Sri Lanka), Indonesia, the Philippines and Vietnam.
In August 2014, NIGC Financial Manager Pirouz Monjazi said the company has set a goal to annually sell $1 billion worth of LPG.
Iran has been building up access to a growing fleet of very large gas carriers, enabling the country’s producers to export LPG to Asia. Before the US-led international sanctions on Tehran, Iran was a leading supplier to Asia, and it is trying to reclaim that position.
Iran, which has the largest gas reserves in the world, seeks to enhance gas production by increasing foreign and domestic investments.
The country is also determined to become the biggest petrochemical producer in the Middle East.
