Iran owns no share in global LNG market

Oil&Gas Materials 24 October 2011 16:12 (UTC +04:00)

Azerbaijan, Baku, Oct.24 / Trend F.Milad/

Managing Director of the National Iranian Oil Company Ahmad Qalebani said Qatar has left Iran behind in the LNG production.

Qatar earns some $60 billion annually from turning the South Pas gas field's output into LNG, while Iran has no shares in the global LNG market, he said at an LNG conference in Tehran on Monday.

Qalebani said Iran is one of the major holders of oil and gas reserves in the world. Like Russia, Iran has the largest gas fields with 29.6 trillion cubic meters of natural gas reserves, he said.

To date, Iran LNG Company is the only LNG production plant in the country, he said, adding that four other plants- Pars, Persian, Golshan and North Pars are planned to be constructed.

Referring to the non-commitment of foreign companies to their obligations for participating in Iran's LNG projects, he said that the issue is obstacle before some LNG production plans.