Iran Eyes Potential LNG Deals

Wednesday, March 01, 2006
Iran's National Iranian Oil Co. (NIO.YY) hopes to finalize deals with oil majors Total SA (TOT), Royal Dutch Shell PLC (RDSB.LN) and Repsol YPF SA (REP) towards the end of March to develop phase 11 and 13 of the country's giant South Pars gas field. Albawaba.com reports that South Pars Oil and Gas Co. would sign the contracts on the two phases sometime this week. In 2004, NIOC signed a framework deal with Total for the upstream development of phase 11 to develop liquefied natural gas in the Pars LNG project. Two LNG trains would produce 10 million metric tons annually and investment would be between $1.2 billion to $1.4 billion. NIOC also signed a similar framework deal in 2004 with Royal Dutch Shell and Repsol to form the Persian LNG production company, linked to the development of phase 13 of South Pars and valued at $1.5 billion. These two new deals, along with NIOC's own projects NIOC LNG and Iran LNG, will help Iran to reach annual LNG production capacity of 30 million tons. At 27 trillion cubic meters, Iraq has the world's second largest natural gas reserves after Russia. But Iran has been slow to develop its resources with a view to exports. Almost half of Iran's natural gas reserves lie in the South Pars gas field which is jointly shared with Qatar, which is already exporting large quantities of LNG from the joint reservoir. (Source: MarketWatch)
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

BP Gulf Spill Trial Set For January

The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday,

Canada To Keep Keystone XL Issue Alive With White House

Far from giving up on the Keystone XL pipeline to the United States, Finance Minister Joe Oliver said on Tuesday Canadawould keep the issue alive with the Obama

EU gives Geneva deal a chance before adopting new Russia sanctions

The European Union is holding off imposing further sanctions on Russia for now over its actions in Ukraine until it sees if a deal reached in Geneva last week works, EU diplomats said on Tuesday.

Container Ships

Shippers Vapores, Hapag-Lloyd Merger

A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd,

USCG to Medevac Injured Mariners Battling Rough Seas off Alsaka

The U.S. Coast Guard said it is preparing to medevac three injured mariners from a vessel currently more than 300 miles south of Kodiak Monday after a large wave

Novorossiysk: New Tonnage Dues Rates

GAC informs that tonnage dues rates in the port of Novorossiysk will be increased about 9% with effect from April 27, 2014. The rate increases are as follows: Tankers - Rates in force: 2.

 
 
Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1111 sec (9 req/sec)