Iran to find new markets by developing LNG industry

ILNA: Iran can find new markets in distant countries by developing its LNG industry, the managing director of National Iranian Gas Exports Company, Alireza Kameli said.

“Developing the LNG industry will help Iran realize its goal of gaining 16 per cent of the world’s total gas trade,” Kameli said.

He went on to note that the country’s oil minister has also stressed the need to boost Iran’s LNG industry.

“As the world’s largest holder of gas reserves, Iran can not limit itself to rely on pipeline-based exports,” Kameli explained.

In the fourth 5-Year National Develop Plan (2005-2009), the country aimed to produce 70 million tons of LNG from the South Pars, North Pars, Ferdosi and Golshan gas fields by launching six LNG production facilities.

Later in 2008, Iran signed $25 billion worth of contracts to develop its gas fields and produce LNG with the Chinese SINOC group, Chinese CEPA, Polish state-owned gas company (PGNiG) and Malaysian Petrofield LNG Co.

The value of Iran’s contracts with PGNiG and Petrofield were respectively about $2 billion and $14-16 billion.



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