Iran to Set Up Three Energy Hubs

Iran is planning to establish three energy hubs in the Persian Gulf islands of Lavan, Qeshm and Siri.

Mahmoud Zirakchianzadeh, managing director of the National Iranian Offshore Oil Company (NIOOC), said that Iran should invest $70 billion in the upstream sector of the oil industry and NIOOC plans to turn Lavan Island into a petrochemical hub, Press TV reported.

Zirakchianzadeh said some three billion cubic feet of natural gas will be fed into the Lavan Island for it to produce and directly export petrochemical products.

He added that about $12 billion and $16 billion in investment are respectively needed for the development of Lavan’s upstream industries and petrochemical sector, Press TV reported. 

Qeshm Island has also been designated as a hub for generating electricity from gas, he said. 

He pointed that Siri Island will become Iran’s gas export hub where 14 billion of investment is needed for the development of the three gas fields of Foruz-A and -B and Binaloud in the island. 

The petrochemical sector in Siri Island presents some $16 billion in investment opportunities, he said.