26 July 2016 - 13:11
  • News Code: 265767
Foreign Investors Run Bid for Iran LNG Project

TEHRAN, July 26 (Shana) – Managing Director of National Iranian Gas Export Company (NIGEC) Ali-Reza Kameli said on Tuesday that foreign companies have announced readiness to enter venture project with Iran for LNG production.

Kamel said technical assessment of the LNG project of Iran will be over in about three months.

He said under the project the factory for liquidification of natural gas will be financed by the investor and on the one hand the contractor company will implement and build it and a third company will guarantee extract of the LNG consignments.

He noted that a number of powerful foreign companies have hence announced readiness for joint investment  covering the three dimensions.

The NIGEC top official said European companies and strong Asian companies call for implementation of the Iran LNG project, said the official, adding that definitely, the best bid offered by the companies will be taken into consideration. 

He said Kogas company, which signed a deal with the NIGEC, is one of the companies which has run the bid to contribute to the Iran LNG project.

Kogas is a big South Korean gas company, established in 1983 and is a main company importing LNG worldwide.

Kameli said for the time being, Iran LNG project, the financing aspect and degree of necessary activities for implementation by the foreign bidding companies are among top issues worth regarding in this domain.

Managing Director of the NIGEC predicted that by the next three months, Iran LNG Due Diligence technical assessment will be over.

National Iranian Oil Company is to set up a LNG plant, consisting two parts running in par, in southwest coastlines of Iran in Pars Special Energy Economic  Zone. Each part is expected to run with the annual production capacity of about  5.4 million tons of LNG, 0.263 million tons of propane, 0.194 million tons of bhutan, 0.213 million tons of gas condensates, and 0.133 million tons of sulfur .

The factory for liquidification of natural gas is getting established in Tombak region 50 kms northwest of Assalouyeh and 15 kms southeast of Kangan-Pars 2 (Tombak).

He referred to export of LNG to Europe as a long-term goal and said these days Europe-Asia difference over price of gas has been minimized.

“On the one hand, Iran can export LNG consignment to Europe via Suez Canal within 12 to 14 days – something similar to exports to China and markets even farther like Korea, Singapore and Japan. Supposing the prices go down further or even getting equal, there will be more motivation for export of LNG to Europe.”

News Code 265767

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