41936
France Interested in Iranian LNG Projects
Energy

France Interested in Iranian LNG Projects

Following Oman, India and South Korea, France has also expressed interest in taking over liquefied natural gas projects in Iran, which is one of the world’s largest owners of gas resources.
According to ISNA, although many LNG and mini-LNG plans were due to become operational in the past few years, none has gone on stream because of the imposition of western sanctions against the Persian Gulf country and underinvestment.
As a result, the lion’s share of Iran’s LNG output is consumed domestically and foreign customers are limited to a few neighboring countries.
In the post-sanctions era, Iran has reiterated that it aims to raise LNG exports and expand its reach in the international markets while neighboring countries, which can receive Iranian gas via pipeline, are still prioritized over more distant countries.
Officials say 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 given the current market conditions.
Concurrent with Iran’s growing interest in increasing its market share, especially in European Union countries, international LNG markets have faced a series of fluctuations due to the large importers’ reduced demand for fuel, because of its relatively high price and the emergence of inexpensive alternative fuels.
Hamidreza Araqi, managing director of National Iranian Gas Company, has said the country will enter new LNG markets, even if it would not be profitable.    
According to the official, the country is aware of the current market situation, but the Persian Gulf country should acquire the knowhow.
According to plans, the country's annual gas exports, including LNG, should rise to 80 billion cubic meters by 2021.
In spite of low profitability in the implementation of LNG projects, many international companies have expressed eagerness to undertake the construction of LNG plants in Iran.
Following Oman, India and South Korea, which have recently signed a memorandum of understanding on the implementation of LNG and mini-LNG projects, France’s oil and gas giant Total intends to build such units in the Middle East country.
Total boasts of experience in undertaking many LNG projects worldwide and based on the latest data, it has raised its LNG sale by 6%, making le sales reach 2.64 million tons.
Iran LNG and gas export plans to Oman could give momentum to the country’s LNG industry. Iran LNG is under development at Tombak Port, approximately 50 kilometers north of Asalouyeh in Iran's Bushehr Province. The project includes two LNG production lines, each with a capacity of 5.4 million tons of LNG per year.

 

Short URL : http://goo.gl/HkQn11
  1. http://goo.gl/2O2aCL
  • http://goo.gl/1evo7S
  • http://goo.gl/SDuJwg
  • http://goo.gl/K8dPu5
  • http://goo.gl/GCH19M

You can also read ...

Renewable Energy Could Become Cost-Free by 2030
A research report by Swiss investment bank UBS believes the...
Total Awaits CNPC Decision on South Pars Stake
Total is awaiting a decision by China National Petroleum Corp...
India Announces 2nd Round of $14b Oil, Gas Bidding
India has launched the second round of bidding for small...
Oil Price Edges Up
Oil prices rose on Tuesday after Saudi Arabia said it had cut...
Focus on Eying Sustainable Water, Energy Consumption Patterns
Identifying sustainable water and energy consumption patterns...
Domestic Refineries Building Diesel Hydrotreating Units
A diesel hydrotreating unit, which is a part of the plan to...
Portable Gas Stations  for Northern Routes
The National Iranian Oil Products Distribution Company has...

Trending

Googleplus