Iran Launches Phase 1 of Qeshm Oil Export Terminal
09.14.2020 - NEWS

Monday 14, 2020 [Argus] – Iranian president Hassan Rohani has inaugurated the first phase of a new oil export terminal on Iran’s Qeshm island, at the mouth of the Gulf of Oman.

The Direstan terminal is being built on a 177-hectare site on the island’s southern coast, and will add just shy of 6.5mn bl to Iran’s onshore liquids storage capacity once fully online.

The first phase, which cost 150mn euros to build, includes six 540,000 bl capacity tanks for a total capacity of 3.24mn bl. Construction work on this phase began in December 2019 and was carried out entirely by private-sector contractors. The tanks are suited for storing crude oil, products and gas condensates.

The second phase of the project will add another 3.24mn bl, but through the addition of seven tanks: five with a capacity of 540,000 bl and two with a 270,000 bl capacity. Work on this second phase is scheduled to be complete by the end of the first quarter next year.

Once complete, the Direstan development should raise Iran’s total liquids storage capacity to around 102.5mn bl.

In addition, the project also involves the construction of a 22km 16-inch pipeline that links the Direstan terminal to the Gevarzin gas processing plant, in the north of Qeshm Island. Iran says the pipeline can also facilitate the movement of oil and oil products between the Direstan terminal and both the 340,000 b/d Bandar Abbas refinery and 480,000 b/d Persian Gulf Star (PGS) condensate splitter project, which is also in Bandar Abbas.

These storage capacity additions come at a time when Iran is struggling to selling its liquids on international markets due to the US sanctions that were reinstated on its crude, products and condensate in late-2018. But while the country’s crude output has been cut by almost 50pc to accommodate its reduced exports, managing its condensate surplus has been more challenging as it is closely associated with gas production from South Pars which is vital for meeting domestic demand.

Iran has ongoing storage capacity expansion projects at both the Pars Special Economic Zone in Bushehr province and Bandar Abbas in Hormozgan province.


Click Here to Access Today a 5,550 Tank Terminal Database With a Pro Trial
5,550 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

PNOC Seeks Creation of Strategic Petroleum Reserves
08.12.2022 - NEWS
August 12, 2022 [ The Philippine Star Global ] – State-run Philippine National Oil Co. (PNOC) w... Read More
Egypt to Double Oil Storage Capacity at Al-Hamra Port In 3 Years: Asharq
08.12.2022 - NEWS
August 12, 2022 [ Arab News ] – Egypt is working to double the oil storage capacity at Al-Hamra... Read More
Gulf Unit Invests
08.12.2022 - NEWS
August 12, 2022 [ Bangkokpost ] – Gulf International Investment (Hong Kong) Ltd (Gulf HK), a wh... Read More
Exlusive Uniper Could Swap Australian LNG for Atlantic Gas to Supply Europe Quicker
08.12.2022 - NEWS
August 12, 2022 [ Reuters ] – Germany’s Uniper is prepared to swap liquefied natural gas ... Read More