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Iranian President seeks to make Iran a major supplier of LNG

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LNG Industry,

Following the historic agreement made to limit Iranian nuclear power in exchange for the gradual removal of sanctions, the Iranian President, Hassan Rouhani, stated in July 2015: “new horizons emerge with a focus on shared challenges.” Iran possesses major natural gas reserves and supplying Europe could prove to be a profitable decision. Not only would this generate more business, but it would also fundamentally reshape the dynamics of the energy industry in the region.

Spain could serve as a channel for LNG between Iran and Europe following talks between Iranian Oil Minister, Bijan Zanganeh and Spain’s Minister of Industry, Energy and Tourism, Jose Manuel Soria. Nonetheless, companies from other countries are looking to get involved as well. For instance, a source from Far News Agency has stated that: “A Chinese, an Arabian and a European company are keen to acquire an Iran LNG plant to complete it.”

In November, 2015, at the European Autumn Gas Conference in Geneva, Switzerland, a number of discussions will be had on whether or not the supply would be secure, and will include non-EU representatives, such as the US, Russia and, of course, Iran.

Speakers include the Chairman of the National Iranian Gas Export Company (NIGEC), Mr. Azizollah Ramazani, who will focus on the challenges faced by both parties and the potential establishment of Iran as a major LNG supplier for Europe. Another discussion point put forward by Ramazani will be the possibility of floating LNG (FLNG) installations. This, in particular, has been a major discussion point lately, with NIGEC’s Managing Director, Alireza Kameli stating in July 2015 that negotiations are underway with the “world’s biggest company in FLNG shipping serving to transfer Iranian gas to Europe in seven to 12 months.”

Edited from press release by David Rowlands

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