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Iran and South Africa have reached preliminary agreement to cooperate jointly in the construction of gas to liquid (GTL) conversion plant in Iran. semi-official Fars news agency reported on Monday.
During the meeting on Sunday. Iranian Deputy Oil Minister Marzieh Shahdaei and the visiting South African Energy Minister Tina Joemat-Pettersson agreed on launching feasibility studies for building a gas to liquids unit with a capacity of 50.000 barrels.
Gas to Liquids is a refinery process to convert natural gas or other gaseous hydrocarbons into longer-chain hydrocarbons. such as gasoline or diesel fuel.
On Saturday. Iran`s Petroleum Minister Bijan Namdar Zanganeh said that Iran was ready to purchase shares of the refineries in South Africa.
Namdar made the remarks on the sidelines of a meeting with Joemat-Pettersson.
The purchase plan was aimed at guaranteeing long-term oil exports to the country. Zanganeh said.
Iran`s state oil companies should not be involved in the deals. he said. adding that private sector. with the help of Iran`s National Development Fund. could participate in the purchase of the refinery shares.
