Iran to Triple Gas Condensate Exports

Iran will most likely triple its gas condensate exports in less than two years, managing director of Iranian Oil Terminals Company (IOTC) was quoted as saying.

Seyyed Pirouz Mousavi said on Wednesday that in less than two years, Iran will increase its export of gas condensate from the current level of 450,000 barrels per day (bpd) to 1.2 million pbd, Pres TV reported.

The country currently exports condensate from the southern port of Asalouyeh, and plans to further boost condensate exports by building new facilities near the city of Kangan in Bushehr Province, south Iran.

Iran, which sits on the world's second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.