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Iran to begin LNG export in 2010


Iran's South Pars (phases 9 & 10) gas platforms

Press TV - A senior Iranian energy official says the country will begin exporting its first liquefied natural gas to Europe and China in 2010. Iran, which holds the world's second largest gas reserves after Russia, began the construction of its first liquefied natural gas (LNG) plant on Tombak Island over a year ago.

"The Iran LNG plant has two trains, the first train will be ready by the end of 2010 and that is when the first shipment will be made," commercial deputy managing director at Iran LNG, M.K. Shahroudi, told Reuters on Monday.

He said that Iran is currently negotiating with several international companies adding that the negotiations would determine where the country's LNG would be exported.


Iran aims to initially export 2.5 million tons of LNG and gradually increase this amount to 10.8 million ton within one year. Each LNG train will have a capacity of 5.4 million tones per year.

A consortium of Iranian and international companies are involved in building the plant.

Iran to raise oil output to 4.3 million bpd

The Managing director of the National Iranian Oil Company (NIOC) says Iran aims to raise its oil production to 4.3 million barrels per day.

Seifollah Jashnsaz made the announcement to Mehr News Agency, adding that the increase in output will be achieved by the end of the current Iranian year (March 20, 2009).

The realization of the planned increase will be made possible by a number of major projects to develop smaller oilfields as well as raising output from the existing fields, excluding prospects for major new discoveries, he added.

Iran's current oil output is 4.207 million barrels a day and the extra output is expected to be supplied from Darkhovein, Shademargan and Hengam oilfields in the southwestern province of Khuzestan, Jashnsaz said.

Iran's oil reserves stand at 136 billion barrels, he noted.

Iran, the second largest producer in the Organization of Petroleum Exporting Countries (OPEC), is said to have earned around $60 billion from its oil exports in the Iranian calendar year of 1385 (21 Mrach 2006 - 20 March 2007), with higher projections for this year.

Achieving an increase of one million barrels a day is the primary goal set for Iran's Oil Ministry in its current Fourth 5-year Development Plan, which would require sizable investments in the development of new fields.

... Payvand News - 05/26/08 ... --

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