Baku, Azerbaijan, Feb. 5
By Fatih Karimov – Trend:
Iran needs about $300-500 million of investment to develop its Liquefied Natural Gas (LNG) projects, Ali Kardor, managing director of the National Iranian Oil Company (NIOC), said.
The Islamic Republic has called the interested companies to offer their investment proposals, Kardor said, ISNA news agency reported Feb. 5.
“We have announced 1.5 million tons capacity for LNG production and companies can implement projects in this regard to export gas in LNG form,” he added.
Any country can offer its proposal for investment in Iran’s LNG projects, Kardor said.
Earlier Kardor said that Iran targets exporting 0.5-2 million tons per year of LNG using mini-LNG plants and floating LNG vessels.
The Islamic Republic stopped completing a 10.4-million tons/y LNG project last decade due to sanctions, but resumed negotiations with foreign companies in 2016 to bring the 52-percent developed plant to operational stage. Despite than, the talks have not reached to any results yet.
Currently, Iran’s flaring gas amount stands at about 11 billion cubic meters per year (bcm/y).