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Iran says it's signed its 1st agreement tied to LNG

NIOC said it signed its 1st-ever deal for the sale of gas slated for foreign delivery as super-cooled LNG.

Iran says it's signed its 1st agreement tied to LNG


The Iranian oil ministry's news website reported on October 26, 2017, that its signed its 1st-ever deal for the sale of gas slated for foreign delivery as super-cooled LNG.

NIOC and a consortium controlled by Iranian and Norwegian companies signed the agreement for LNG.

«The gas will be delivered by the floating liquefaction unit Caribbean FLNG, owned by Belgium's Exmar, with 500,000 tons of LNG production capacity annually,» the report read.

LNG has more options for delivery than conventional natural gas, which is bound by transnational pipelines that are sometimes exposed to geopolitical risk.

The announcement comes 1 week after Pars Oil and Gas, the National Iranian South Oil Co., and a handful of others said they signed a MoU with Italian power company Ansaldo Energia to collect flared gas from Phase 12 of the operations at the South Pars gas field.

The Iranian oil company said the LNG deal lasts for 20 years and kicks in within the next 3 months.

The floating LNG will dock daily at a Pars gas refinery, Shana's report read.

The Pars Oil and Gas, which helps drive operations at Iran's offshore South Pars natural gas field, was one of a handful of Iranian companies with a pavilion set up at the annual Offshore Energy Exhibition & Conference in Amsterdam this month.

Speaking to the Financial Times, Amir Hossein Zamaninia, the deputy oil minister for international affairs, said the country is in talks with everyone except the Americans.

By his estimate, there are talks under way for more than 2 dozen agreements with foreign companies, which could lead to more than $20 billion in contracts over the next year.

President Hassan Rouhani set a goal of signing 10 new development deals by the end of the Iranian calendar year, March 20.


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