Iran to build LNG tankers with Belgian financing

Iran Materials 20 June 2006 13:19 (UTC +04:00)

(IranMania) - Iran has signed a contract with Belgian shipping company Exmar to build 10 liquefied natural gas (LNG) tankers, Iran's National Oil Company news service, SHANA, said.

"Exmar will finance the project, a joint venture with the Iranian shipbuilding company Sadra, with more than US$ 2 bln," Abdolsamad Taaghol, the director of the National Iranian Tanker Company in charge of planning, told SHANA, reports Trend.

Iran sits on the world's second largest reserves of natural gas, and will start production of LNG in 2009.

Its natural gas reservoirs in southern Persian Gulf waters are shared with Qatar, the main global exporter of LNG.

In June 2005 Iran and India signed a contract worth $22 billion for Tehran to supply five million tonnes of LNG annually for 25 years from 2009.