Iran weighing bids to build mini LNG plants: Official

Iran is considering investment plans to construct small liquefied natural gas (LNG) plants in the country, an Iranian energy official says.

“At present, more investors have expressed preparedness to build mini LNG plants and nearly USD 100 million of investment is estimated to be required for the construction of such small refineries,” Managing Director of the National Iranian Gas Company (NIGC) Hamid-Reza Araqi told reporters on the sidelines of a Monday conference on investment opportunities in LNG industry.

“So far, eight investors have expressed readiness to participate in this area,” he added.
The mini LNG plants are mainly aimed at providing fuel for large industries, power plants and remote rural areas, the official pointed out.

Iran’s Oil Ministry has repeatedly expressed support for all international and domestic investments in the country’s oil, gas and petrochemical sectors.

Araqi expressed optimism that Iran can achieve the mini LNG know-how at the shortest possible time thanks to the country’s technological capabilities and investments by the private sector.

On March 26, 2013, Iran LNG Company (ILC) filed a lawsuit with an international tribunal against the European Union (EU) for its “unilateral and illogical” ban on Iran’s mainstream producer of liquefied natural gas.

Under pressure from the United States, the EU enforced the ban on Iran’s natural gas, gas condensate, and LNG in 2012.