Iran will no longer be an importer of gasoline once it launches Persian Gulf Start Refinery project, said an MP.
According to a report, Abolghasem Jarareh said that the project is of crucial national significance for Iran as it turns the country from an importer of petrol to an exporter of the item.
Iran consumes 65ml/d of gasoline while the refinery's output will be 60ml/d.
Persian Gulf Star Refinery's first phase will be launched by May 2016 for production of 12ml/d of liquid fuels.
The second phase of the project will come online with the production capacity of 24ml/d by September 2016 and the final phase of the project will add another 12ml/d to the refinery's output and will become operational by early 2017.
Fulfillment of the refinery's first phase will bring Iran to self-sufficiency in gasoline production. Iran is now an importer of gasoline.
Iran currently imports 5 ml/d of gasoline to meet its growing demand. The startup of Persian Gulf Star Refinery would let Iran even export 3 to 4 ml/d of gasoline.
The project, Iran's first gas condensate refinery, has so far received €1.6b for its completion. It will consume 360,000 barrels of gas condensate on a daily basis once fully operational.