The National Iranian Gas Company and Saderat Bank of Iran signed a contract worth $4 billion on two gas projects.
According to the report of the public relations of the NIGC, the deal was signed on Monday evening by the managing director of the National Iranian Gas Company, Mr. Owji and managing director of the Iran’s Saderat Bank, Dr. Jahromi in the presence of Iranian Petroleum Minister, Dr. Mirkazemi and a number of members of parliament.
It’s worth mentioning that Iran’s Saderat Bank will have an 80 percent share and the NIGC will hold 20 percent of the two gas projects.
As one of the largest gas projects during the fifth Five Year Development Plan (ending in 2015), Bidboland 2 refinery is 17 percent completed and is scheduled to be build during a 36 months period.
Upon completion, the refinery will produce 57 million cubic meters of natural gas daily, 1.5 million tons of ethane, 1.5 million tons of liquefied petroleum gas (LPG) and 400 thousand tons of gas condensate each year.
Meanwhile by launching ethane unit at the Parsian gas refinery, the unit will produce 1.3 million tons ethane per year as well as 1.1 million tons of LPG.
[mappress]
Source: NIGC, January 28, 2011;