5 January 2016 - 14:18
  • News Code: 252886
Gas Condensate Exports to Begin Once Sanctions Lifted

TEHRAN, Jan. 05 (Shana) -- Iran plans to export its natural gas condensates stored in floating storage tankers, instantly following the removal of Western sanctions.

A considerable portion of Iran’s gas condensates are currently stored in tanker’s floating storage, International Affairs Director of the National Iranian Oil Company (NIOC) Mohsen Qamsari told Shana. 

Negotiations are currently underway in this regard, some of which will soon result in contracts, he added. 

“Once, the embargoes are lifted, Iran will not have any problem for overseas sale of its gas condensates. During the period in which sanctions intensified (past three years), we used tankers to store our gas condensates.”

He noted that thanks to the tankers of the National Iranian Tanker Company, the sanctions failed to cause the country a great deal of problems in that period.

“At present, domestic insurance companies provide Iranian tankers with insurance. Following the Swiss accord between Iran and the P5+1 in 2013, no foreign insurance firm stepped forward to insure our vessels. Nevertheless, there would be a dramatic turn of events in this regard in the post-sanctions era.”
News Code 252886

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