Baku, Azerbaijan, April 7
By Dalga Khatinoglu - Trend:
Iran's liquefied petroleum gas export during the last month has soared, the Custom Administration report indicates.
According to the Iran's annual non-oil trade turnover report, the country's monthly Liquefied Petroleum Gas (LPG) during the first eight month of the last fiscal year (March 20, 2013 to November 20, 2013) stood at 164,000 tons, while this figure for the latest four months of last year- which covers November 21, 2013 to March 19, 2014- is about 308,000 tons, indicating about a two times increase.
The U.S. and EU imposed tough sanctions over Iran's banking system as well as whose which targeted oil and petrochemical products exports in mid-2012, but some of sanctions, including petrochemical-related ones and insurance services for oil tankers have been eased due to the nuclear deal obtained on Nov. 24 and that took effect on Jan. 20.
LPG includes butane and propane and is usually from crude oil.
Iran exported 1,385 tons of propane, worth $1.212 billion during the last fiscal year, indicating a 6.68 percent increase in value compared to the previous year, while the butane exports reached 1,159 tons, worth $1.014 billion , indicating a 17 percent increase in value during the mentioned time.
Before sanctions, Iran's yearly propane and butane exports were 2.546 million tons ($2.066 billion) and 1.578 million tons ($1.326 billion) respectively.
So, Iran's LPG exports indicate a 39 percent decrease in volume and 44.5 percent decrease in value compared to the pre-sanctions level.
Edited by C.N.
