News ID: 259884
Published: 1219 GMT October 07, 2019

Iran to build LNG park with megaton capacity: Zanganeh

Iran to build LNG park with megaton capacity: Zanganeh

Iranian Oil Minister Bijan Namdar Zanganeh said the country plans to construct a Liquefied Natural Gas (LNG) park with an annual capacity to produce three million tons of liquid gas.

“We are planning to enter the LNG industry tapping into domestic capabilities and with the help of Iranian companies,” Zanganeh told Tasnim News Agency.

“We have a plan to build an LNG park by constructing mini LNG [plants] that will have a capacity of three million tons, ... which will be achieved with (production of) small units,” he added.

Asked about the participation of domestic companies in the construction process of the LNG park, Zanganeh said domestic companies will be investing in the project.

Last month, Zanganeh said Iran’s extraction of gas from the South Pars gas field in the Persian Gulf would reach 750 million cubic meters per day by the end of the current Iranian year (March 20, 2020).

LNG is natural gas that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport.

Zanganeh told Sputnik on Thursday that Iran had plans to build two petrochemical plants in its northern areas along the Caspian Sea that will fully correspond to all required environmental standards.

In September, the National Iranian Oil Refining and Distribution Company announced plans to begin petrochemical production in areas close to Iran's Caspian coastline. At the same time, Iranian ecologists expressed concerns regarding the ecological situation in the region being already dire and the risk of deterioration after the launch of petrochemical production.

"We plan to build two petrochemical plants near the Caspian Sea, which will be safe and 100 percent compliant with environmental requirements," Zangeneh said.

As for oil refineries, the minister said that Iran so far has no interest in having them in the Caspian Sea, because it has not yet sourced oil in that area, and transporting crude oil from the country's southern parts, where all key oil infrastructure in concentrated, all the way up to the northern coastline would bear no expediency.

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