June 20, 2014 [Eurasia Review] - Akbar Torkan, the secretary of Iran’s Free Trade Zones Coordination Council, said on June 18 that the facility will be Iran’s second oil export terminal, Iran’s SHANA News Agency reported on June 18.
Torkan previously said, “A pipeline with the length of 2200 km transfers Iranian crude oil to the Sea of Oman shores. So, it is planned to establish oil storage and export facilities in the Jask Island.” The planned terminal outside the vital Gulf oil shipping route would have a storage capacity of 20 million barrels and cost around $2.2 billion to build.
Iran also plans to establish some four oil storage facilities on Kharg Island, located in the Persian Gulf. The construction plan of the facilities started in 2008 and is now 97 percent complete. Once four facilities come on stream, the island’s storage capacity will reach 28 million barrels. The facilities will come on stream at the cost of 420 billion rials (about $34.25 million).
