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LNG Exports Gather Pace

LNG Exports Gather PaceLNG Exports Gather Pace

Foreign liquefied natural gas carriers have started to berth in southern ports and terminals to load the liquefied gas in petrochemical complexes in Asalouyeh, Bushehr Province.     

“All stored LNG in petrochemical reservoirs have already been sold to potential customers and it is gradually being exported without any constraints,” Ahmad Mahdavi, secretary-general of the Association of Petrochemical Industry Corporations, told Mehr News Agency on Monday.

According to the official, enforcement of the Joint Comprehensive Plan of Action (the official name of the nuclear deal) has increased LNG exports to international markets.

Mahdavi noted that the production and exports of the commodity by petrochemical units were once considered their Achilles' heel, though it is being exported without any difficulty.

Asked about boosting exports, the official added plans call for sending LNG overseas via not only Iranian privately-owned liquefied gas carriers but also foreign ships designed for this purpose.

"Insurance coverage for ships, which carry petrochemical and polymer goods, has posed some problems for such companies," he said.

According to reports, the first European carrier belonging to an Italian company berthed in South Pars Petrochemical Terminal in Asalouyeh to be loaded with petrochemical liquefied materials. Following the berthing of the Italian carrier in Asalouyeh, it is predicted that other European ships enter the terminal sooner or later.

On the prospects of joining LNG Exporters Club, Rokneddin Javadi, managing director of National Iranian Oil Company, has already announced that Iran is projected to officially join the club by 2017.

Establishing new LNG production units instead of constructing pipeline tops Iran's agenda for transferring gas to Europe, since economic calculations reveal LNG production is more economically efficient.

Stressing that launching new LNG production units necessitates advanced knowhow and major investments, Javadi said negotiations have been held with states possessing the technology to produce, liquefy, store and transfer LNG.

Underscoring Romania's willingness to import LNG from Iran, Amirhossein Zamaninia, deputy oil minister for international affairs, has already said French oil and gas giant Total has also expressed interest in buying and marketing Iranian LNG.

The government has held talks with international companies in recent months to develop its lingering LNG projects.

According to plans, the country's gas exports, including LNG, should rise to 80 billion cubic meters per year by 2021.

Financialtribune.com