TEHRAN (MEHR - Trend )
The Central Bank of Iran has given the green light to draw $900 million out of the Foreign Exchange Fund to be allocated to the Iran LNG project, the National Iranian Gas Exports Company managing director said in Tehran on Friday.
Seyyed Reza Kassaizadeh added the state-run Bank Mellat has been introduced as the acting bank to pay the sum.
The project is being developed by the Iran LNG Company, a subsidiary of the National Iranian Oil Company and is now 25 percent complete, reported the Mehr News Agency.
Iran LNG plant is being built at Tombak Port, approximately 50 kilometers north of Assaluyeh Port. Construction of the LNG plant started in 2007. The project includes two LNG trains each with a capacity of 5.4 million tons of LNG per annum.
Iran LNG project was planned to be online in January 2011 with a total cost of $4.35 billion for the downstream facilities. The liquefaction plant will be developed in two phases.
Some 995 million cubic feet of gas per day for the liquefaction plant would be offered from Phase 12 of the South Pars gas field. Iran LNG has already given a gas sweetening plant contract to Iranian Farab Company, a project management contract to Spain's Socoin, and an LNG and LPG storage facilities contract to South Korea's Daelim.