Turkmen Happy with Iranian Deal

Iran will construct an LNG export terminal on the Turkmen section of the Caspian Sea, according to the Turkmen Oil and Gas Company.

A source said the agreement on the establishment of a 3,000-ton reservoir tank had already been signed by Iran's Pars Energy Company and the Turkmen side, the Iranian news agency reported.

Operations for the construction of the terminal, costing about $9.15 million, will be be completed by August 2005.

Iran, Japan, and Afghanistan are major importers of Turkmen gas.