Iran’s NGL project on Kharg Island achieves 75 percent physical progress
(MENAFN) A major NGL (Natural gas Liquids) project on Kharg Island in the Persian Gulf has achieved 75 percent physical progress, according to Mohammad Reza Dashtizadeh, the governor of Kharg. This project, with an investment of 350 million euros from the private sector, aims to reduce gas emissions on the island to zero.
Governor Dashtizadeh highlighted that the completion of the NGL project is expected to generate 500 million euros in annual income for Iran. He also emphasized that the workforce for this project is entirely Iranian, with 80 percent of the employees hailing from Bushehr province, where Kharg Island is located.
Kharg Island is strategically positioned in the Persian Gulf, approximately 25 km off the coast of Iran and 483 km northwest of the Strait of Hormuz. It serves as a crucial seaport for oil exports and extends Iran's territorial claims into the Persian Gulf oil fields. The island's proximity to oilfield regions, its advantageous offshore location, and suitable depth for large oil vessels make it one of the country's prime sites for crude oil export and loading.
In December, the head of the Iranian Oil Terminals Company (IOTC) announced that the crude oil storage capacity at Kharg Oil Terminal would increase by two million barrels. Abbas Gharibi, during a visit to the terminal, mentioned that the completion of repairs on tanks 25 and 26 would contribute to this increased capacity. He noted that the terminal, with its modern infrastructure including wharves, loading arms, flow pipelines, storage tanks, and measurement systems, plays a vital role in Iran's oil industry by facilitating crude oil storage, export, and enhancing the oil and gas value chain.
The NGL project on Kharg Island represents a significant step towards environmental sustainability and economic growth for the region, leveraging local expertise and strategic geographical advantages.
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