TEHRAN – Japan has shipped in the first cargo of Iranian gas condensate produced in phases 20 and 21 of South Pars giant gas field in the Persian Gulf, Shana reported on Saturday.

According to Pirouz Mousavi, the managing director of Iranian Oil Terminals Company (IOTC), the cargo included 160,000 barrels of SP’s phases 20 and 21 gas condensate along with the output from phases 2-5 as well as 650,000 barrels of crude oil from Forouzan oilfield.

Condensate has been driving Iran's export growth in recent months, thanks to developments at the country’s giant South Pars gas field.

According to a report released by Reuters in October 2016, Korea has been one of the main demand drivers for Iranian gas condensate although India and Japan have also raised imports.

Gas condensate was at the top of Iran’s non-oil exports list during the first 10 months of the current Iranian calendar year (March 20, 2016-January 19, 2017).

With an export value of $6.26 billion, the commodity accounted for 17.08 percent of the total 10-month non-oil exports value.

EF/MA