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EghtesadOnline: The know-how to build liquefied petroleum gas (LPG) storage tanks has been indigenized by a private company, managing director of Panahsaz-e-Iran Engineering Company said Monday.

"Manufacturing each tank costs $20 million that is $7 million less than similar foreign brands," Amiribrahim Afrouz was quoted as saying by IRNA.

The company, headquartered in Tehran, is active in the oil and gas sectors and has acquired the technology to design and build double-layer propane and butane storage tanks.

Referring to the giant South Pars Gas Field projects off the Persian Gulf, he said each phase of the project needs two propane and two butane tanks, Financial Tribune reported.

South Pars, the world's largest gas field shared between Iran and Qatar was developed in 24 phases, of which 22  are operating.

"We have built 40 tanks for phases 15 to 24," he said, adding that each tank can store 45,000 cubic meters of gas.

According to the CEO, the firm has plans to also produce storage facilities for petroleum products. 

"As soon as we get the Oil Ministry's approval, construction of oil and petrochemical storage tanks will start near the Strait of Hormuz," he said.

According to Gholamreza Zeinalpour, a member of the Association of Petroleum Industry Engineering and Construction Companies, in the Middle East Iran is the only country that builds LPG storage tanks. 

“Regarding the need for advanced technology, local firms have acquired the know-how in cooperation with British-Scottish companies. This progress was used in South Pars phases 9 to14 as well as the natural gas liquids project in Siri Island,” he said.

Noting that the know-how was indigenized in SP Phase 15, Zeinalpour said LPG tanks of phases 15 to 24 were also built by Iranian engineers.

Iranian companies have so far built 40 LPG storage tanks in South Pars, most of which have come on stream. However, domestic companies are still “skeptical” and hardly invite local LPG tank manufacturers to participate in their tenders, he rued.

Stressing that domestic LPG tanks are 40% cheaper than their foreign counterparts, he said Iran is now pursuing a policy of exporting the relevant technical and engineering services to neighboring states.


Iran Domestic Company LPG Storage Tanks Panahsaz-e-Iran