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Iran to Export 1st LNG Cargo in 2013

Source: Fars News Agency, Tehran

Iran plans to start exporting Liquefied Natural Gas (LNG) supplies to other countries next year, a deputy oil minister announced on Sunday.

Iran LNG Company

"The National Iranian Oil Company (NIOC) will join the group of LNG exporters next year by exporting its first LNG cargo," Deputy Oil Minister for Planning and Supervision on Hydrocarbon Resources Mohsen Khojasteh-Mehr announced on Sunday.

He further pointed out that phases 11 and 12 of the giant South Pars Gas Field are considered as the upstream sector of the country's LNG plans as the needed gas for the project will be supplied from these two phases.

He further noted the marketing activities already carried out for selling the LNG supplies to be produced in Iran's South Pars Gas Field, and said, "Thus far, some successful negotiations have been held for selling our LNG."

Referring to Iran's rich oil resources, he said that the country ranks third in the world in oil reserves after Saudi Arabia and Venezuela.

The volume of Iran's exploitable oil reserves amount to 156 billion barrels and the volume of the country's exploitable gas reserves stands at approximately 34 trillion cubic meters, Khojasteh-Mehr said.

Iran, the second-largest producer in the Organization of Petroleum Exporting Countries, is pushing to develop its LNG industry in addition to crude oil exports, Mohsen Qamsari, the head of the international affairs at the NIOC, had said earlier this year.

The nation seeks a share of the Indian and Chinese markets, which account for some 45 percent of the world's LNG consumption, Qamsari said.

The country aims to become a major LNG supplier with an annual production capacity of 70 million tons by 2015. Iran has seven LNG production projects.

Iran shares the world's largest known gas deposit with Qatar, which can produce 77 million metric tons of LNG a year and is the biggest exporter of the fuel.

... Payvand News - 06/18/12 ... --

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