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.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
US sanctions Iranian crypto exchange Nobitex over terrorism financing
The United States has imposed sanctions on Iranian cryptocurrency exchange Nobitex, the country's largest digital asset platform, along with several individuals linked to it, the Treasury ... more
Iran sets conditions for response to new US nuclear proposal
Iran has received a new written proposal from the United States aimed at reviving nuclear talks but has yet to respond, with senior officials saying Tehran's concerns must first be addressed, Fars ... more
Diplomatic progress prompts cautious resumption of Hormuz transit
The tentative reopening of the Strait of Hormuz has allowed critical LNG and crude tankers to resume transit amid progressing US-Iran diplomatic negotiations. WHAT: Shipping traffic has increased ... more