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    Iran to Inaugurate Kharg Island NGL Plant This Year

Summary

Iran will inaugurate a natural gas liquids (NGL) production plant on Kharg Island, which is located in the Persian Gulf, by the end of the next Iranian calendar year which ends on March 2014.

by: Shardul

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Asia/Oceania

Iran to Inaugurate Kharg Island NGL Plant This Year

Iran will inaugurate a natural gas liquids (NGL) production plant on Kharg Island, which is located in the Persian Gulf, by the end of the next Iranian calendar year which ends on March 2014, Tehran Times has reported.

Iranian Offshore Oil Company official Reza Bayazi said that the plant is half way through and has a projected output of 600 million cubic feet per day, the newspaper reported citing ISNA news agency.  The project will cost €1.2 billion to complete, Bayazi noted.

Some of the output of the new plant will be produced from associated gas, also known as flare gas or associated petroleum gas.