Iran to build second oil export terminal on Oman

Iran plans to build its second oil export terminal in Jask Island in the Sea of Oman, Secretary of Iran's Free Trade Zones Coordination Council Akbar Torkan said on Wednesday. The Iranian official said that Iran's second oil export terminal is projected to be established in addition to the Kharg oil export terminal, which is located in the Persian Gulf, Trend reported. Torkan went on to say that a pipeline with the length of 2200km transfers Iranian crude oil to the Sea of Oman shores, particularly Jask Island in which oil storage and export facilities are scheduled to be built. In May 2013, Pirouz Moussavi, managing director of the Iranian Oil Terminal Company said the oil storage capacity of Kharg Island will reach 28 million barrels. Currently, four oil storage facilities are under construction on the island, the official added. The facilities will come on stream at the cost of 420 billion rials (about $34.25mln), Moussavi said. Construction planning for these facilities began in January 2011. They are supposed to come on stream in 36 months, the Iranian official explained. He was quoted by the FNA last month as saying that Iran was building several land based oil storage sites at locations including Kharg Island and Assalouyeh. Moussavi said Iran faced no problems with oil exports.