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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Rosneft Completes Geological Survey

Rosneft reports on 100% completion of the geological survey program on Company's offshore license areas for 2014. In the current year geological survey covered

Maersk to Introduce Low Sulphur Surcharge

To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS).

Rowan's Fleet Status Update

Rowan Companies plc informed today that its monthly report of drilling rig status and contract details have been updated as of November 20, 2014.  Notable events

Container Ships

Maersk to Introduce Low Sulphur Surcharge

To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS).

US Sets Import Duties on Containers from China

The U.S. Commerce Department on Thursday set duties on imports of rail and road transport containers from China after finding the goods were sold below cost in the United States.

Panama Canal Delegates Meet with Japanese Customers

A Panama Canal delegation headed by Administrator Jorge L. Quijano visited Japan to hold discussions with the Japan Shipowners’ Association (JSA) and the major Japanese shipping lines,

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2256 sec (4 req/sec)