76439
Plans to develop LNG plants date back to early 2000s.
Plans to develop LNG plants date back to early 2000s.

LNG Exports From South Pars Possible in 2018

LNG Exports From South Pars Possible in 2018

Iran could export its first liquefied natural gas cargo from the Persian Gulf as early as next year, if it presses ahead with its proposed floating LNG production project.
National Iranian Oil Company has signed a contract with joint venture company IFLNG to deploy a 500,000-ton barge to liquefy gas from the giant South Pars field in the Persian Gulf and store and transfer the cargoes, LNG Shipping World news website reported.
IFLNG is a joint venture between Helma Vantage of Norway and Iran’s Kharg Gas Refining Company. They are talking to Belgium-based shipowner Exmar about a short-term charter for Caribbean FLNG.
Analysts at BMI Research say that the $600 million project would be “insignificant” in terms of volume, but would help Iran deepen its integration with partners in Asia and Europe, and build up the country’s experience in LNG trade and marketing.
“Iran could export its first LNG by the end of 2018, following an agreement to deploy the Exmar-owned Caribbean FLNG at Pars Service Port on Kharg Island,” BMI said.
Exmar has declined to comment. However, BMI argues that subject to financing and securing the vessel, the Kharg/Helma project could be ready to operate “in a short period”.
“Iran offers one of the fastest options to employ and monetize the currently redundant Caribbean FLNG vessel,” BMI said. “The facility was constructed to process natural gas, which has a high methane content of 97.6%. While the gas feed from South Pars is far wetter, with greater gas liquids and condensate content, methane from flared gas at nearby offshore projects is the targeted supply.”
Iran’s ambitions in the LNG area are not new. There were plans to develop LNG production projects in place in the early 2000s. International sanctions interrupted these plans, but now they are back on the table, unless the US imposes new sanctions on the country, Oil Price reported.
Until that happens, if it ever does, Iran has access to western oil and gas extraction technology, and has a relationship with French energy group Total who holds a stake in the South Pars mega project.
The French company signed the first new Iran Petroleum Contract to develop an offshore phase of South Pars. Total had also previously expressed interest in acquiring the Iran LNG project.

 

Short URL : https://goo.gl/zQvoUZ
  1. https://goo.gl/kVNk3E
  • https://goo.gl/9s6QP2
  • https://goo.gl/1LoqUw
  • https://goo.gl/NKrmD6
  • https://goo.gl/iJYvFk

You can also read ...

Sri Lanka’s only refinery was originally configured to run on Iranian crude.
Sri Lanka is willing to source its demand for oil derivatives...
China is pumping billions of yuan into advanced nuclear technology.
With its smog-prone north desperate to slash coal consumption...
Mahshahr petrochemical output amounted to 9.87 million tons in March-Sept.
An initiative is underway to collect carbon dioxide emissions...
Iran, Iraq Sign Oil Swap Agreement
Iraqi Oil Minister Jabar al-Luaibi said on Sunday a deal...
OPEC to Discuss Supply Cut Deal's Exit Plan Before June
Kuwait’s Oil Minister Essam al-Marzouq said on Sunday OPEC and...
Egypt's Pilot Gas Production
A pilot production at Egypt’s Eni SpA-operated Zohr natural...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus