Iran's NIOC signs deal with Oslo's IFLNG for barge-based LNG production

By bne IntelliNews October 30, 2017

National Iranian Oil Company says it has signed a deal with Oslo-based IFLNG for the barge-based production of liquefied natural gas (LNG) in Iran, LNG World News reported on October 27.

According to the deal signed between NIOC and IFLNG—a joint venture set up by Hemla Vantage and Kharg Gas Refining Company—the Exmar-owned floating liquefied natural gas vessel Caribbean FLNG (CFLNG), capable of producing 0-5 mtpa of LNG per year, should be deployed at the Pars Service Port. There it will be delivered 2.3mn cubic meters per day of natural gas from the Persian Gulf's South Pars field—the world's largest gas field which is shared between Iran and Qatar.

NIOC stated that the two companies have already taken the required steps to implement a 20-year deal for natural gas sales.

However, in answer to a Reuters inquiry, Belgium-based Exmar’s spokesperson said the talks about the use of the CFLNG vessel were not completed. No deal had been signed as yet, they said.

The CFLNG completed its performance test at the Wison yard in Nantong, China in September last year. It has a storage capacity of 16,100cbm and a liquefaction capacity of 500,000 tonnes per year.

Iran has the second largest gas reserves in the world. Companies such as French energy major Total have agreed to develop the Iranian part of the South Pars field.

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