Foreign companies lined up to enter Iran’s LNG market

TEHRAN (ISNA)- Eight foreign companies, along with Iranian companies, are seeking to contribute in Iran’s liquefied natural gas projects, senior official at the National Iranian Gas Exports Company said.

Alireza Kameli, Managing Director of NIGEC said on Sunday that negotiations are underway between his company and eight companies specialized in LNG projects.

The National Iranian Gas Exports Company is waiting for a decision on the issue by the minister of petroleum to enter possible deals, Kameli said.

Iran plans to revive its massive liquefied natural gas (LNG) projects which have been suspended under intensified western-imposed sanctions.

Iran had already entered deals with the Anglo-Dutch Royal Dutch Shell, Spain’s Repsol and France’s Total to build three LNG plants but they abandoned the projects in 2010 under US and European pressures.

The NIGEC director, answering a question on Iran-Turkey dispute over gas prices, Kameli said that Iran has referred the case to the International Court of Justice and is waiting for the court’s decision.