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| Iran to set up energy hubs in 3 Persian Gulf islands: Official |
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 The managing director of the National Iranian Offshore Oil Company (NIOOC) says Iran plans to establish three energy hubs in the Persian Gulf islands of Lavan, Qeshm and Siri.
According to the country’s development plan, some USD 70 billion should be invested in the upstream sector of the oil industry, Mahmoud Zirakchianzadeh said on Monday, adding that NIOOC plans to turn Lavan Island into a petrochemical hub.
Zirakchianzadeh said some three billion cubic feet of natural gas will be fed into the Lavan Island for it to produce and directly export petrochemical products.
He added that some USD 12 billion and USD 16 billion in investment are respectively needed for the development of Lavan’s upstream industries and petrochemical sector.
The Iranian official further said that Qeshm Island has also been designated as a hub for generating electricity from gas.
He said that Iran’s Power Plant Projects Management Co. (MAPNA) will generate electricity from the natural gas fields of Qeshm by constructing a power plant in the island.
Zirakchianzadeh added that the project requires some eight billion euros of investment in the upstream industries and more than seven billion euros for the production of 6,000 megawatts of electricity.
He also said Siri Island will become Iran’s gas export hub, adding that some USD 14 billion of investment is needed for the development of the three gas fields of Foruz-A and -B and Binaloud in the island.
The petrochemical sector in Siri Island presents some USD 16 billion in investment opportunities, he said.
Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to boost its gas production by increasing foreign and domestic investments.
(Source: Press TV)
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