Iran Eyes $1bln Annual Sale of LPG
TEHRAN (Tasnim) – An official with the National Iranian Gas Company (NIGC) said the company has set a goal to sell $1 billion worth of Liquefied Petroleum Gas (LPG) per annum.
According to Pirouz Monjazi, one of the main obstacles to the export of LPG is now lack of carriers.
However, he anticipated an improvement in Iran’s export of LPG although citing a series of existing restrictions.
Back in May, CEO of the Iranian Gas Commercial Company (IGCC) Mohammad Ali Barati told Tasnim that two European countries, namely Spain and Italy, have expressed willingness to purchase LPG from Iran.
“Some companies from these two countries have requested (to buy) 100,000 tons (of LPG) from us and, of course, the quantity can rise,” he said at the time.
Barati said Iran’s LPG and sulfur exports mainly go to China, India, Indonesia and South Korea, adding that no mechanisms have so far been defined for supplying these products to Europe.
“But it is among our objectives to export LPG to Europe. (Hence) we will make efforts to provide the (required) conditions.”
The Islamic Republic, which holds the world’s third-largest proven oil reserves and the largest natural gas reserves, has been trying to enhance its gas production by attracting foreign and domestic investment.
The country is also determined to become the biggest petrochemical producer in the Middle East.