Iran's Siri Island to be Gas Export Hub

Iran’s Siri Island in the Persian Gulf is expected to turn into country’s gas export hub in the near future, according to managing director of the Iranian Offshore Oil Company (IOOC).

According to report in Press TV earlier this month, Mahmoud Zirakchianzadeh said that Siri Island is currently connected to the main production and consumption points through a pipeline network, which runs hundreds of kilometers. 

On February 14, the largest natural gas liquids (NGL) plant in the Persian Gulf came on stream in Siri Island. 

The Siri NGL project, which includes a pipeline linking Siri Island to Qeshm Island, and another pipeline connecting Siri Island to Kish Island, Siri NGL plant, and Kish gas pressure boost station, costs $500 million, Press TV reported.  

The plant reportedly collects 100 to 104 million cubic feet per day of dry gas, and saves Iran around $5-7 million per day and over $2 billion per annum as a result of not burning flare gas. 

Several Asian and European countries have expressed readiness to purchase condensate and gas liquids from the Siri plant, despite sanctions against Iran, Press TV said.