Iran inaugurated a natural gas liquids (NGL) plant on the Persian Gulf island of Siri, Tehran Times daily reported Saturday.

The Siri NGL plant is projected to produce 1,400 barrels of gas condensates, 1,500 barrels of pentane, 4,000 barrels of butane, and 8,000 barrels of propane per day, the managing director of National Iranian Offshore Oilfields Company, Mahmoud Zirakchianzadeh, was quoted as saying.

The plant will also have about 500 million U.S. dollars of sales annually, said Zirakchianzadeh.

Some of the output of the new plant will be produced from associated gas, also known as flare gas or associated petroleum gas, which is burnt out and significantly contributes to the worldwide anthropogenic emissions of carbon dioxide, according to Tehran Times.

About 40 million cubic meters of associated gas is burnt every day at Iranian oil fields, causing around 3 billion U.S. dollars of losses for the country annually, said the daily.

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