Iran: Reports of plans to construct new gas refinery
Iran will construct its first natural gas refinery which is costed at 1.6 billion U.S. dollars, Tehran Times daily reported Wednesday.
The designing processes of the project will start after the Iranian Khatam al-Anbia Construction firm inks a deal with the National Iranian Central Oilfields Company by the next month, said the report without elaborating on the location of the refinery.
The refinery will be fed with the natural gas produced in Iran' s southern Halgan and Sefid Baghoon fields.
Iran's President Mahmoud Ahmadinejad said Saturday that his country plans to double natural gas production from the South Pars field in the next six months.
The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar.
According to the International Energy Agency (IEA), the field holds an estimated 1, 800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels of natural gas condensate.