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Gazprom to participate in LNG project in Iran

Gazprom's CEO Akelsei Miller has met Iran’s Oil Minister Bijan Namdar Zanganeh

MOSCOW, December 13. /TASS/. Russia’s top gas producer Gazprom has signed a roadmap on implementation of projects in Iran and a memorandum of understanding and cooperation on an LNG project in the country, the company reported following a visit of its delegation headed by Chairman Aleksei Miller to the country. As part of the visit, Miller met Iran’s Oil Minister Bijan Namdar Zanganeh, the report said.

The roadmap envisions preparation of a conceptual study on implementation of integrated projects in the field of hydrocarbon production, transportation, and refining, including petrochemistry, in Iran by Gazprom. The document was signed by Gazprom Chairman and Chief Executive of the National Iranian Oil Company (NIOC) Ali Kardor.

Moreover, heads of Gazprom, NIOC and Oil Industry Pension, Saving and Staff Welfare Fund signed a memorandum of understanding, which stipulates joint consideration of potential cooperation within the Iran LNG project.

The first stage of Iran LNG project envisions the construction of two LNG lines with capacity of 5.25 mln tonnes per year each. The second stage implies that the capacity will be increased to 21 mln tonnes per year due to the construction of two more lines. Iran LNG Сo. will be the project’s operator. National Iranian Oil Company and Oil Industry Pension, Saving and Staff Welfare Fund will be main shareholders.

In early November Gazprom signed a number of documents aimed at fostering Russian-Iranian cooperation in the gas sector. The signing was held on the margins of the visit of Russian President Vladimir Putin to the Islamic Republic of Iran.

Particularly, a memorandum of understanding for strategic cooperation was signed. In accordance with the document, the parties will look into the prospects of joining efforts in developing Iranian gas fields with subsequent gas transportation and monetization, including through liquefaction and petrochemical production.

Gazprom and NIOC inked a memorandum of understanding to collaborate on the construction project for the Iran - Pakistan - India gas pipeline. The document is based on the memorandum of understanding signed by the Russian Energy Ministry and the Iranian Petroleum Ministry as part of the state support for the pipeline construction project. Thanks to the memorandum, Gazprom and NIOC will, inter alia, start developing a feasibility study for the design, construction and operation of the Iran - Pakistan - India gas pipeline.

Another document signed in early November reflects the intent of the parties to explore the possibilities of joint gas liquefaction projects slated to be implemented in third countries, as well as projects in the field of advanced gas processing and petrochemistry in the territory of Iran.