Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Iran to put $120bn towards LNG production

Tehran: The managing director of Iran LNG Ali Kheirandish has claimed that Iran anticipates no problems securing investments to the tune of $120bn to become the world's top exporter of liquefied natural gas within the next 12 years, Iran's English-language satellite channel Press TV reported.

Iran "has no financing difficulties" and "has already secured $5bn in financing for investment from its own resources, partners and banks," Kheirandish is cited as having said at a project finance conference in Abu Dhabi. "Many financiers have come to us with very attractive offers and we expect a lot more banks to make offers," he added. Stating that Iran LNG is hoping to produce 80m tons of the gas annually by 2020, Kheirandish is reported as saying, "We could increase the level after that period but it will depend on the market and other conditions."

The majority of Iran's LNG production is expected to be sold to Asia and Europe under long-term supply contracts and it is likely that the remaining LNG will find its way onto the spot market.  [03/06/08]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish