Italy’s Enel, National Iranian Gas Export Company ink deal

Italy’s Enel, National Iranian Gas Export Company ink deal

Baku, Azerbaijan, Apr. 12

By Farhad Daneshvar, Dalga Khatinoglu - Trend:

The National Iranian Gas Export Company (NIGEC) and the Italian multinational manufacturer and distributor of electricity and gas, Enel have inked a memorandum of understanding (MOU) on gas and LNG related issues.

"We confirm that Enel has today signed a Memorandum of Understanding with NIGEC (National Iranian Gas Export Company), setting forth the main principles for possible future cooperation between the two companies in natural gas, LNG and/or related infrastructure," an Enel spokesman told Trend Apr. 12.

"These principles might include sharing of information, studies, analyses and training courses, as well as exploring future opportunities for long term supplies," added the spokesman.

So far Iran has failed to produce LNG. Back in 2007, Tehran launched a project for constructing Iran LNG plant, at Tombak Port, approximately 50 km north of Assaluyeh Port, spending $2.5 billion.

However, international sanctions blocked the efforts made for finalizing the project. The project has progressed by 50 percent so far. The capacity of the Iran LNG plant is estimated at about 10.5 million tons a year.

Iranian President Hassan Rouhani and Italian Prime Minister Matteo Renzi oversaw a ceremony Apr. 12 for signing of the MOU with Enel, where five other documents were inked as well.

So far, Iran and Italy have agreed on a total of 36 deals as six new documents were signed in Tehran, and 30 documents were signed in Rome in January.

Italian PM Matteo Renzi, heading a 250-member political and economic delegation, arrived in Tehran on Apr. 12 to discuss the expansion of ties.

President Rouhani visited Italy in January for two days during which the two countries signed deals worth up to 17 billion euros ($18.42 billion).

During his late January visit, Rouhani headed a high-ranking delegation of business leaders and ministers, signing a pipeline contract worth about $4 billion with oil services group Saipem.

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