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Iran to export LNG to Venezuela

LNG Industry,

Iran is to export LNG to Venezuela; Cuba and Argentina will also be supplied under the agreement.

According to Ali Kheirandish, Managing Director of Iran LNG, South American countries will be the major target market for Iranian LNG exports. Indeed with the current international trade restrictions in place, South America is one of the only places that will do business with Iran at all. Venezuela, with its eccentric and anti-North American leader Hugo Chavez, is particularly disposed to accept Iranian LNG.

According to the contract between the two countries, Venezuelan National Oil Company will own 10% of the Iran LNG project, and Iran LNG has also agreed to help Venezuela to build an LNG plant in the Delta Caribe area of Venezuela.

The LNG liquefaction plant at Tombak Port in Iran, which will be fed by gas from the South Pars field, is 40% complete according to official sources and it will be 50% complete by March 2011.

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