Iran News ...


4/21/07

Iran, Austria sign agreement on LNG sale to Europe

Tehran, April 21, IRNA - Iran and Austria on Saturday signed an agreement for 2.2 million tons of LNG. The agreement was signed between the National Gas Exports Company of Iran and Austria's OMV Company on the sidelines of the 12th International Oil, Gas and Petrochemical Exhibition.

According to the agreement, Austria's OMV will have a 10 percent share in Iran's LNG project and will supply 2.2 million tons of LNG for Europe annually.

Meanwhile, based on another agreement signed by the National Gas Exports Company of Iran and Austria's OMV Company, Iran will supply five billion cubic meters of natural gas needed by Europe annually.

Another agreement was signed by Iran's Petropars Company and OMV for contribution of the Austrian company to development of Phase 12 of South Pars gas field, southern Iran.

Based on the agreement, some 20 percent of upstream and downstream sectors were delegated to the OMV.

OMV is the leading gas and oil group in Central Europe and Austria's largest industrial company.

... Payvand News - 4/21/07 ... --



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