BAKU, Azerbaijan, October 8. Iran has developed short-term and long-term programs to collect flare gas, the country’s Oil Minister, Mohsen Paknejad, told local media, Trend reports.
Under the short-term part of the program, the private sector participates in flare gas collection projects even without any initial payment and collects the gas. Subsequently, the collected gas is converted into high-value products through agreements with the National Iranian Oil Company (NIOC).
The minister noted that in the long-term program, flare gas collection will be implemented through natural gas liquid (NGL) plants, several of which are currently under construction in Iran. By 2029, a significant portion of the flare gas produced alongside oil will be captured.
The Iranian Oil Ministry aims to increase daily flare gas collection to 45.4 million cubic meters, or 16.5 billion cubic meters annually, under its long-term plan. Currently, around 20 million cubic meters of flare gas are collected daily in Iran.
The National Iranian Oil Company (NIOC) operates as a sovereign entity, wielding unilateral authority over the entirety of Iran's hydrocarbon sector. It is tasked with the comprehensive management of upstream and downstream activities, encompassing the exploration, extraction, logistics, and international trade of petroleum and natural gas resources. This entity ranks among the globe's preeminent hydrocarbon conglomerates, operating under the auspices of the Ministry of Petroleum. It engages in multifaceted operations through a plethora of subsidiaries that span the entire value chain, encompassing entities such as Pars Oil and Gas Co. and the National Iranian South Oil Company.
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