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Iran's PSEEZ Gas Condensates Exports Rises by 40%

Source: Bloomberg 1/26/2015, Location: Asia

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Over 9.575 million metric tons of gas condensates worth over $8.653 billion have been exported from Iran's Pars Special Economic Energy Zone (PSEEZ), located in southwest of the country, in the first ten months of the current calendar year (March 21, 2014 - January 20).

Managing director of PSEEZ Khodadad Rahimi said that the figures show 35 and 40 percent increase in terms of weight and value, respectively, compared to the same period previous year, Iran's IRNA News Agency reported on Jan. 25.

He went on to note that some 8.415 million tons of non-oil products worth over $6.453 billion have also been exported from PSEEZ in the mentioned period.

The figures show 20 and 18 percent increase in terms of weight and value, respectively, compared to the same time span previous year.

"The goods were exported to some 29 countries from 4 continents including China, Japan, the United Arab Emirates, India, Turkey, Iraq, Taiwan, Malaysia, Vietnam, Afghanistan, Pakistan, Armenia, Russia, Mozambique, Egypt, Syria, Turkmenistan, Tajikistan, Ukraine, Qatar, Tanzania, the Philippines, Ghana, Kenya, Azerbaijan, Georgia, South Korea, and Mexico," Rahimi explained.

Rahimi said on August 26 that Iran exported around $7 billion of gas condensates from PSEEZ in the 12-month period which ended on August 25.

"Some 8.36 million tons of condensates, valued at $6.96 billion were exported in the mentioned period," he said. "Gas condensate exports rose by 3 percent in weight and 11 percent in value year on year," he added.

"China, Japan, the UAE, India, and Turkey were the top five destinations for Iranian gas condensates," Rahimi said. Iran produces a little more than 0.4 million barrels per day of gas condensate.

After imposed sanctions in mid-2012, the country's gas condensate exports decreased from 260,000 barrels to below 195,000 barrels per day, but after implementation of interim nuclear accord in January 20, Iran boosted condensate export.

The Custom's reports indicates that Iran sold 9.741 million tons (equals about 448,000 barrels per day) from January 20 to July 20, when the 6-month interim nuclear accord was extended again.

The Custom report also indicates that during last 12 months, the country's total gas condensate exports amounted to 17.025 million tons, which is equal to 392,000 barrels per day.

About half of Iran's gas condensate exports were done from PSEEZ.

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