Iran launches gasoline project to revise energy strategy

Iran has launched the first phase of the gasoline production project in the southern Persian Gulf region on Sunday, Press TV reported.

The Persian Gulf Condensate Refinery, a project which would turn condensate into fuels, was inaugurated during a visit by Iranian President Hassan Rouhani to the southern port city of Bandar Abbas.

The refinery would produce at least 12 million tons per day (mt/d) of high quality gasoline in the first phase.

It is expected to be in full swing by next March when its production of gasoline would reach as high as 36 mt/d, thus increasing Iran's overall production of the strategic fuel to more than 100 mt/d.

The project would make the country independent from imports of gasoline once fully developed, Press TV said.

Self-reliance in production of gasoline has strategic importance for the country, Rouhani said, describing it as a "necessary move."

The feedstock for the Persian Gulf Condensate Refinery, the capacity of which is 360,000 barrels per day of condensate, would be provided through a pipeline directly from Iran's natural gas zone of South Pars.

The construction of the refinery started in 2006 but its completion was delayed because of western sanctions against Iran. Endit