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Gazprom inks agreement on Iran’s $4 billion gas project

Gazprom signed aMoU with NIOC to cooperate in the Iran LNG project.

Gazprom signed on December 13, 2017, a MoU with the National Iranian Oil Company (NIOC) to cooperate in the Iran LNG project which is estimated to cost $4 billion.


NIOC and Gazprom signed 2 MoUs on gas cooperation, Gazprom CEO Alexey Miller and NIOC Managing Director Ali Kardor signed the agreement in Tehran.


One of the deals concerns a gas cooperation roadmap between NIOC and Gazprom and the other is about cooperation for construction if Iran LNG project with partnership of Iran's Oil Industry Persian Fund.


As per the agreement, Gazprom should conduct financial and technical studies over the course of 6 months and finalize its offer for holding a stake in the project.

On the sidelines of the signing ceremony, Iranian Oil Minister Bijan Zanganeh said the method of cooperation will be specified in coming months.


Miller said for his part that the Russian company will present results of study on 4 Iranian gas fields, namely Farzad A, Farzad B, North Pars and Kish in the 1st quarter of 2018 to the Iranian Oil Ministry.


The 1st phase of the Iran LNG project provides for the construction of 2 gas liquefaction trains with the annual capacity of 5.25 million tons each.

During the 2nd phase, the facility’s output will be increased to 21 million tons per year upon the construction of 2 additional process trains.


To read the full story in Russian.


Source : Neftegaz.RU