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06/28/08

Iran, Poland to sign $2b LNG contract

TEHRAN, June 28 (Mehr News Agency)- Iranian Offshore Oil Company (IOOC) and Polish state-owned gas company (PGNiG) are about to sign a $2 billion LNG contract, IOOC's managing director said here on Saturday.

"Recently Poland requested to invest in Lavan gas field which volume of gas-in-place is around 10 trillion cubic feet(TCF)," Mahmoud Zirakchian Zadeh explained, IRINN reported.

"The Polish side has declared its readiness to invest in Persian Gulf's Lavan gas field development plan to export the produced LNG gas to Poland," he added.

Zirakchian Zadeh stated that the contract will most probably be finalized.

Poland, which depends on Russia for 48 percent of its gas imports, has made diversification of supply a priority and the deal with Iran could potentially pave the way for such a diversification.

In recent months, PGNiG signed several deals that could allow it to import gas from countries such as Libya and Denmark.

... Payvand News - 06/28/08 ... --



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