Iran has launched Phase 1 of the new Direstan oil export terminal on Iran's Qeshm Island, at the mouth of the Gulf of Oman.
The first phase of the terminal includes six tanks with a 540,000 barrel capacity each, for a total capacity of 3.24 million barrels. It cost Iran EUR150 million (USD177.7 million) and the construction started in December 2019, commenced by private-sector contractors.
Once complete, the terminal will add around 6.5 million barrels to the country’s onshore liquids storage capacity. It would raise Iran's total liquids storage capacity to around 102.5 million barrels.
The project would include the construction of a 22 km pipeline linking the terminal with the Gevarzin gas processing plant, in the north of Qeshm Island.
At the moment, Iran is having difficulty selling its liquids on international markets as the US is imposing sanctions on its crude, products, and condensate.
