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 ...

Norway Intends to Build First Offshore Floating Wind Farms
Norway’s Petroleum and Energy Minister Terje Soviknes will...
Venezuela Oil Production May Soon Sink to 1m bpd
Venezuela’s plummeting oil production is nearing the...
GAP envisages the construction of 22 dams and 19 power plants.
Turkey is taking advantage of its abundant supply of ...
OPEC+ to Discuss Q3 Output Surge
The planned increase of crude production by OPEC+ nations of 1...
Egypt Hikes Fuel Prices by 50 Percent
Egypt has raised gasoline prices by up to 50%, its oil...
US-Saudi  Oil Increase  Plan a Ploy Against OPEC
The US political pressure on Saudi Arabia to boost oil output...
Oil Ministry to Modify Contracts With Domestic Parts Producers
The Oil Ministry plans to modify the contracts it had earlier...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus