By  Trend

Iran on March 17 will launch four new development phases of South Pars, the world’s largest gas field, with a capacity to produce 112 million cubic meters per day, Trend reports via PressTV.

Iranian President Hassan Rouhani will travel to Bushehr in the Persian Gulf to inaugurate two refineries built with $10 billion of investment.

With their launch, Iran’s daily gas production will surpass that of Qatar with which it shares the offshore field.

The $5 billion refinery for phase 13 is fully operational, with the first shipping of its gas condensate delivered on March 11 for export, the project’s operator Payam Motamed said. Another refinery for phases 22, 23 and 24 will come online March 17.

Each plant has a capacity to process 56 million cubic meters of gas per day and convert it to LPG, ethane, condensate and sulfur worth $5.5 billion a year at the going market prices, the Iranian petroleum ministry’s Shana news outlet said. The revenue, it said, will account for 2 percent of Iran’s GDP of some $427 billion.