Iran to build two GTL plants by 2014

Iran's oil and industry ministries have inked an agreement for building two GTL plants in next three years each with a capacity of 1000 barrels.

Gas to liquids (GTL) is a refinery process to convert natural gas or other gaseous hydrocarbons into longer-chain hydrocarbons such as gasoline or diesel fuel.

Country’s first GTL plant was inaugurated on Sunday.

Iran's minister of industries, mines and business said that the national development fund will support a part of the massive project and invited all foreign and domestic investors to take part in GTL ventures.

Iran is looking to GTL technology as an initiative that would multiply the added value of its natural gas in the future.