Iranian Minister of Petroleum Javad Owji said the country’s gas condensate exports are on the rise, adding a new record has been set in gas production from the joint South Pars Gas Field.
Addressing reporters on the sidelines of an exhibition of the capabilities of Academic Center for Education, Culture and Research (ACECR) on Monday, Owji said the administration of Iranian President Seyyed Ebrahim Raeisi had no plans to increase the price of petrol, adding the record of 705 million cubic meters of gas production from South Pars joint field was set in late December, Shana reported.
He stated that the amount of liquid fuel consumption in power plants in the three months of autumn this year was 26 percent, adding: “This figure is seven percent less than the same period last year (33 percent), which shows that in the three months of autumn this year, on average 20 million cubic meters more gas was consumed by power plants.”
The minister stated that at the beginning of autumn this year, “we were concerned about gas condensate and a large volume of this item was floating on the sea, but with a good initiative, the exports of gas condensate increased and part of it was used domestically."
Iran’s daily gas condensate production is expected to reach 1.3 million barrels per day (mbd) by the end of the current Iranian year (March 20, 2022), the Iranian ministry announced in May.
Iran is currently producing over 550,000 barrels of gas condensate on a daily basis, part of which is directly exported to foreign destinations, and a part is used as the feedstock for domestic refineries.
Gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natural gas will condense to a liquid state if the temperature is reduced to below the hydrocarbon dew point temperature at a set pressure.
Most of Iran’s gas condensate is produced from the country’s giant South Pars Gas Field which Iran shares with Qatar in the Persian Gulf waters.
Iran used to export much of its gas condensate to Asia, with South Korea and Japan being major customers, but US sanctions in 2018 led to a sharp decline in the exports.