Iran reportedly kicked off talks with foreign companies to sell shares in a liquefied natural gas project it is looking to bring back on track once the sanctions are lifted.
Mostafa Sharif, general manager of market research and economic appraisal at National Iranian gas export company (NIGEC) , told Argus that the 10.8 mtpa Iran LNG project is top of the list for revival.
The project is targeted for completion within three years, however, exact timeline depends on the shareholders structure.
NIGEC, that holds a 49 percent share in the Iran LNG project, is mulling a sale of its share to foreign companies in order to complete the project. The company could reduce its share in the project to 20 or 25 percent.
The other shareholder, Iran Oil Pension Fund, which holds a 51 percent stake, could also sell some of its shares. Discussions over possible sales could be finalized by the end of 2016.
Linde’s technology has already been chosen for the project, as the licenses and some of the facilities are already in place, but the sanctions restricted the delivery of the technology. Back in September, Sharif noted that all facilities except the liquefaction units are ready for use.
LNG World News Staff