Iran commissions large NGL plant in Persian Gulf

TEHRAN,Dec.20(MNA)--One of the largest Natural Gas to Liquids (NGL) plant sin the Persian Gulf cam eon stream by Iran with the daily production capacity of 100 million cubic feet. The NGL plant is located in the Siri Island in the Persian Gulf and its capacity will rise to 140 million cubic feet in the future. Some 240 billion cubic feet of gas associated with oil is burnt annually in the Persian Gulf oilfields. Iran’s oil ministry plans to build another NGL plant in the Kharg Island to cut the burning gases to zero by 2015. Over $500 million has been invested in the Siri NGL project which is aimed to produce 101 million cubic feet of methane, 16 million cubic feet of ethane, 6,723 barrels of propane, 1,374 barrels of pentane, 3,601 barrels of butane and 1,267 barrels of condensates per day. Three European and Asian companies have announced readiness to buy the first pentane consignment produced at the Siri Island NGL unit. By fully operating the NGL unit by the end of the current calendar year (March 20, 2012), Iran will save around $1 million per day out of not burning gases associated with oil.