Tehran-Seoul gas co-op moving forward

Business Materials 3 May 2016 11:57 (UTC +04:00)

Baku, Azerbaijan, May 3

By Fatih Karimov - Trend:

Grounds are prepared for materializing documents signed between Iran and South Korea, Rokneddin Javadi, Iranian deputy oil minister, said, SHANA news agency reported May 3.

Javadi made the remarks while responding to a question regarding possibility of realization of oil and gas documents signed between Tehran and Seoul.

South Korea is the world's second biggest LNG importer, Javadi said, adding the country's energy consumption is increasing.

South Korea's state-run Korea Gas Corp (KOGAS) and National Iranian Gas Company (NIGC) signed a memorandum of understanding (MoU) on constructing 9th and 11th cross-country gas pipelines as well as a seabed pipeline for supplying Iran's gas to Oman.

The company will also work on mini LNG, CNG projects, as well as research and development projects under another agreement.

A separate agreement also has been signed between the NIGC and KOGAS, for conducting technical studies of Iran's Balal gas field.

Elsewhere in his remarks Javadi touched upon the upcoming Oil, Gas, Refining and Petrochemical Exhibition in Iran which is scheduled for May 5-8, saying no decision was made so far for signing any agreement on the sidelines of the event.