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Iran expects to bring five LNG projects online in the next three years

Iran expects to bring five LNG projects online in the next three years, including a liquefaction facility which is 60% complete, head of the National Iranian Gas Company (NIGC) says. 

The country has the world’s largest gas reserves but Western sanctions have hampered plans to build Iran’s first facility for freezing gas for export by special tankers.

NIGC Chief Executive Hamidreza Araqi is hopeful that the most advanced project, Iran LNG which began construction in 2007 with a capacity to produce 10 million metric tons a year, would become operational in the next one and half years.

“Among the five LNG plants under construction, the so-called Iran LNG has 60% physical progress and we hope to complete it in the next one and half years after finding an investor and enter the LNG market thereafter,” he said.

Several European companies have proposed to participate in the projects but negotiations have yet to be finalized, Araqi said on the sidelines of a high-profile summit of Gas Exporting Countries Forum in Tehran.

The resumption of the three projects along with Iran LNG and another plan to build a facility for floating production of LNG will create a capacity for 40 million metric tons of frozen gas a year which Iran seeks to export entirely.

Iran is reportedly looking into a plan to pipe its natural gas to Oman and have it liquefied there for exports to international markets.  

To the same effect, energy authorities from Iran and Oman have agreed to undertake a joint technical feasibility study on the construction of a 200-kilometer subsea pipeline across the Persian Gulf.

Although Iran is itself considering construction of its own liquefaction plants, making use of the Qalhat facility offers the fastest route to materialize Tehran’s LNG export ambitions, LNG World Shipping reported.

Reference: http://www.beg.utexas.edu/energyecon/lng/LNG_introduction_06.php

Iran gas recovery from South Pars fetches 500 bcm

Iran has recovered 500 billion cubic meters (bcm) of natural gas over the past 15 years from the giant offshore South Pars Gas Field which it shares with Qatar in the Persian Gulf, Iranian Oil Ministry data show. The official data indicated that Iran is recovering 285 to 300 million cubic meters (mcm) of natural gas from the massive field, divided into 28 phases. The daily gas recovery would soar past 700 mcm after the development of all phases. Iran has extracted 2.65 bcm of rich gas from Phase 1 of the field since the beginning of the current Persian calendar year in March 2012. Over the same period, more than 14.7 bcm of rich gas has been extracted from phases 2 and 3, 15.7 bcm from phases 3 and 4, 18.7 bcm from phases 6-8 and more than 11.11 bcm from phases 9 and 10. During the Iranian year ending in March 2012, Iran recovered more than 84.7 bcm of natural gas from the developed South Pars phases, earning the country nearly USD42 billion in revenues. If the projected 700-800 mcm daily recovery of natural gas from South Pars is realized, the country would gain more than USD120 billion a year from selling gas and its products a year. Covering an area of 3,700 square kilometers, South Pars gas field is located in the Persian Gulf straddling the common border between Iran and Qatar. The field’s reserves are estimated at 14 trillion cubic meters of gas and 18 billion barrels of condensate. South Pars makes nearly 50 percent of the country’s and 8 percent of the world’s gas reserves. Iran, which sits on the world’s second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing foreign and domestic investments, especially in its South Pars gas field. KA/SS

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