Iran Plans $5 Billion LNG Project

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Researched by Industrial Info Resources India (Delhi, India)--Iran LNG Company (ILC) (Tehran, Iran), a subsidiary of National Iranian Oil Company (NIOC) (Tehran), is planning to construct a grassroot 10.8 million-ton-per-year liquefied natural gas (LNG) production plant in the Tombak region in the Bushehr province. ILC holds 49% of the shares in the project, while Oil Industry Investment Company (OIIC) (Tehran) holds 50%, and the remaining 1% lies in the Oil Industry Pension Fund.

Project has been divided in three packages. Package 1 involves setting up of facilities such as the power station, the gas sweetening unit, the sulfur recovery unit, the liquifaction unit, and the dehydration and mercaptane removal units. Package 2 includes construction of storage tanks for LNG and LPG, while Package 3 involves construction of a harbor and jetties for export operations. The feedstock gas will be supplied from the South Pars field.

Iran is ranked the second in the world in natural gas reserves after Russia, with available gas reserves estimated at more than 33 trillion cubic meters. The aim of the project is to liquefy natural gas to export 2 billion cubic feet out of 3 billion cubic feet of produced gas per day from South Pars Phase 12 and to increase the production capacity to 30 million tons of liquefied gas, but the 10million-ton project, which is currently under way, is only for exports and is not aimed at providing fuel for power plants.

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