Iran to launch major condensate project by March

SHANA– Iran says it is planning to launch the second phase of a major condensate refinery by the end of the current Iranian calendar year which began on March 21.

Iranian Minister of Petroleum Bijan Zangeneh told a televised interview that the second phase of Bandar Abbas Gas Condensate Refinery will become operational by March.

“Currently, the facility is supplying 12 million liters of Euro-4 gasoline and the second phase of the plant will come on-stream if God wills,” the official said.

Asked whether inauguration of the phase will render Iran needless of gasoline imports, the official said, “No, because production of new vehicles will increase domestic consumption for the item.”

Automobile production increases by 1.2 million per year which increased fuel demand by 8% or 6 to 7 million liters per day, the official argued.

“Once the second phase of the project comes online, production of gasoline will be more balanced inside Iran; and once the third phase comes online by late next [calendar] year, the item’s production will reach a favorable state in the country,” Zangeneh said.

He said the petrol produced by the refinery enjoys the best quality and almost meets the Euro-5 quality standards, as say some experts.

The unit’s gasoline output will double once the second phase becomes fully operational and its output will reach 36 million liters per day by the time the third phase comes on-stream.