South Korea's NGL imports from Iran rises over 6%

South Korea's imports of natural gas liquids (NGL) from Iran hit 77,254 tons in April showing more than a 6-percent increase, customs office data revealed on Wednesday. Last month, Asia's fourth-largest economy imported a total of 136,604 tons of natural gas liquid - a feedstock for petrochemical production. Of that total, 77,254 tons came from Iran showing a 6.19 percent rise compared to the figures of March, according to the data. South Korea resumed NGL imports from Iran in March after it halted import of Iranian supplies last July. Iran, which sits on the world's second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing investments in the energy sector. The Islamic Republic has 137.6 billion barrels of proven oil reserves, and 29.61 trillion cubic meters of proven gas reserves. After the UN Security Council ratified a sanctions resolution against Iran on June 9, 2010, the United States and the European Union imposed further unilateral sanctions against the Islamic Republic over its nuclear program, mostly targeting the country's energy and banking sectors. Tehran has always dismissed West's pressures and stressed that sanctions and embargos merely consolidate Iranians' national resolve to continue the path of progress and will harm the economies of the supporters of sanctions. Meantime, Analysts believe that the West, specially the EU, started implementation of the sanctions against Iran at a time when it is experiencing its worst economic conditions.