Abdolsamad Ta’aqol told Petroenergy Information Network that the company will be established by Iran’s National Iranian Tanker Company and China’s Shipping LNG Investment Company and is to transport 3 million tons of liquefied natural gas from Iran to China.

He added that negotiations on the establishment of the company were held during a recent trip to China by the managing director of National Iranian Tanker Company, Mohammad Soori, and the talks focused on cooperation in carrying liquefied natural gas purchased by the Chinese customers. The liquefied natural gas is produced by South Pars and North Pars gas fields

“During the said trip primary negotiations for the establishment of the company were held and final investment decision was made depending on decision about China’s investment in Pars LNG project,” he said.

Director of planning of the National Iranian Tanker Company stated that China has launched great activities for developing its industrial infrastructures and the country has taken big strides for strategic planning regarding fuel supply and launching liquid gas projects.

Ta’aqol noted that in view of development of South Pars and North Pars gas field by the National Iranian Oil Company, big Chinese oil companies including Sinopec, Petro China and CNOOC, are planning to supply part of their needed liquefied natural gas from Iran and have started independent negotiations on investment in and purchase of liquefied natural gas from Iran.

“Since National Iranian Oil Company maintains that the lion’s share of liquefied natural gas should be carried by the Iranian ships, the National Iranian Tanker Company has undertaken responsibility for carrying part of the liquefied natural gas product of South Pars gas field and Islamic Republic of Iran Shipping Lines has assumed responsibility for carrying another part,” he added.

Director of planning of the National Iranian Tanker Company further noted that establishment of a joint LNG shipping company is a must and due to early agreements reached between the National Iranian Gas Company and Pars Oil and Gas Company, on the one side, and Chinese, European and Malaysian customers, on the other side, domestic shipping companies are to take charge of shipping liquefied natural gas and, therefore, they should establish joint companies in cooperation with their foreign counterparts.

During the recent visit of the managing director of the National Iranian Tanker Company to China, major decisions were made about cooperation with companies purchasing the Iranian LNG as well as funding shipbuilding by such shipyards as Arya, Pars Petrochemical Shipping Company.

Ta’aqol had already told Petroenergy Information Network that building LNG carrying ships is part of the five-year development plan of the company and if production of liquefied natural gas from South Pars and North Pars gas fields as well as the contract for selling liquefied natural gas to India is finalized, building such ships will begin.

He added that Iran was negotiating with China and such big companies as Spain’s Repsol, the French Total, and the Royal-Dutch Shell.

 Iran is planning to export about 83 million tons liquefied natural gas (in addition to gas condensate and other product) by 2014.