In his keynote speech in the Argus first conference on bitumen and LPG, Safarali Karamati underlined Iran as one of the biggest and most reliable suppliers of LPG, bitumen and base oils, adding that Asia makes a significant part of Iran’s export market for these commodities.

He said Iran never lost its LPG market share even under the US led sanctions on its nuclear program, but of course the removal of sanctions greatly and positively impacts the countries presence in international markets.

The official said however that the introduction of shale oil and gas by to US in the global market has negatively affected the LPG market for traditional suppliers.

Keramati says about 20 very large crude carriers (VLCC) are to sail the international waters by 2017 that will be a very good news for traders of LPG and bitumen.

Argus, a leading supplier of market statistics and pricing of petroleum products, launched its first conference on bitumen and LPG in Tehran on Monday.

Iran currently produces 8 million tons of LPG annually of which three million tons comes from natural gas, 2.5 mt comes from petrochemical plants and the rest is supplied by refineries across the country, he added.

Iran is developing enormous infrastructural projects in Asalouyeh and Bandar Abbas that will dramatically boost its export capacity, Keramati said

He further added that by development of South Pars the countries LPG output will almost be doubled.