Iranian President inaugurated on Monday three major projects in the oil, gas and petrochemical industries, amounting to €4.7 billion in investments, Kallanish Energy reports.

The projects launched in a videoconference included Phase 1 of the Bushehr Petrochemical Plant, Iran Gas Trunklines 9 and 6, and West Karoun Oil Cluster power plant.

The Bushehr project increases Iran’s petrochemical production by 4 million tonnes per annum (Mtpa) through its gas sweetening, ethane and methanol units. Construction of the plant started in 2011, and is the only plant to be fed by sour gas from upstream operations.

The petrochemical plant has annual production capacity of 1,323 tonnes of methane, 850,000 tonnes of ethane, 130,000 tonnes of propane, and 30,000 tonnes of butane, among others. The Bushehr project has a total cost of €1.32 billion.

Another project launched will boost gas transfer capacity of the national gas company by 110 million cubic meters per day (Mmcm/d), through 1,850 km of trunklines and 5 compressors. The infrastructure runs from southern to northwest Iran.

Rouhani said the gas industry will lead the country’s development and can connect Iran to its neighbors. He said exports could be heading in the eastern direction now, with a gas pipeline laid to the point of the Pakistani border.

Iran currently exports gas to Iraq, Turkey, Armenia and Azerbaijan. The pipeline and infrastructure brought online on Monday will enable the country to expand its exports volumes and potentially new markets, Rouhani said.

The third project is a 492-megawatt gas-fired power plant built in West Karoun oilfield cluster. The plant will supply electricity to the oilfields in southwestern Iran.

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