TEHRAN- Iran’s Pars Especial Economic Energy Zone (PSEEZ) exported $1.687 billion of gas condensate in the first quarter of the current Iranian calendar year (March 20-June 20, 2016), showing a 57 percent growth compared to the same time last year,” the CEO of the PSEEZ organization Mehdi Yousefi told Shana news agency on Tuesday.

According to him, PSEEZ exported 4.178 million tons of gas condensate in the said time, which registers 107 percent rise, compared to the same period in the previous year.

The official expressed hope that the country will witness a hike in its exports of gas condensate after getting new development phases of South Pars gas field as well as those of different petrochemical complexes operational.

PSEEZ is located in the port city of Assaluyeh, southwestern Bushehr Province. The petrochemical complexes in the zone receive gas and gas condensate feedstock from South Pars gas field, which Iran shares with Qatar in the Persian Gulf.

The giant gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

HJ/MA