Iran to sell first pentane consignment from Siri Island NGL unit

Three European and Asian companies may buy the first pentane consignment produced at the Natural Gas to Liquids (NGL) petrochemical unit in Siri Island, located in Iran’s southern Hormozgan Province, media reports said Tuesday.

By commissioning the NGL unit, Iran will save around $1 million per day out of not burning gases associated with oil.

The project was launched in 2003 and is expected to come on stream by March 2012.

The Siri NGL project includes Siri to Qeshm pipeline, Siri to Kish pipeline, Siri NGL plant, and Kish gas pressure boost station that are estimated to cost $450 million. 

The NGL plant is projected to produce 841 tons of propane, 328 tons of butane, 361 barrels of pentane, and 1250 barrels of gas condensates per day. 

Some $15 billion cubic meters of associated gas is burnt at Iran’s oilfields, bringing the country around $3 billion of loss annually.