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Iran to start LNG exports to Europe by 2011

TEHRAN, Nov. 13 (Mehr News Agency) -- Managing director of the National Iranian Gas Company, Rokneddin Javadi said on Sunday that Iran has signed a memorandum of understanding (MOU) to export natural gas to Italy.

"The project of exporting LNG to Europe will be implemented by 2011," he added.

The official also stated that Iran would export gas to China by the end of the current year. China's oil giant Sinopec Group had signed a $70b oil field development and LNG agreement with Iran on October 28, 2004.

Under the MOU, Sinopec could buy 250 million tons of LNG over 30 years from Iran and develop the giant Yadavaran field.

Iran is going to attain annual LNG export of 36 million tons, worth 6 billion dollars, by 2015, Javadi noted.

... Payvand News - 11/13/05 ... --

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