Iran to Export First LNG Cargo Next Year

Iran plans to start exporting liquefied natural gas (LNG) to other countries next year.  

"The National Iranian Oil Company (NIOC) will join the group of LNG exporters next year by exporting its first LNG cargo," Fars News Agency reported quoting Deputy Oil Minister for Planning and Supervision on Hydrocarbon Resources Mohsen Khojasteh-Mehr. Gas will come from the phases 11 and 12 of the South Pars Gas fields.

Iran is pushing to develop its LNG industry in addition to crude oil exports and is encouraging investments by both private and state owned firms in the sector.

The country wants to focus on Asian markets like India and China where LNG usage is rising rapidly.

Iran aims to become a major LNG supplier with an annual production capacity of 70 million tons by 2015. It has seven LNG production projects.