Gazprom may participate in Iran’s LNG exports

Russia’s gas giant Gazprom may take part in developing liquefied natural gas export projects in Iran once sanctions against the country are lifted.

“Gazprom does not rule out its participation in these projects under certain conditions,” Reuters cited Alexander Medvedev, Gazprom’s deputy CEO as saying.

However, the sanctions against Iran should be lifted first, Medvedev added.

Iran shares the giant South Pars gas field located in the Persian Gulf with the world’s largest LNG producer, Qatar.

This gas field covers an area of 9700 square kilometres, of which 3700 square kilometres belongs to Iran.

The estimates for the Iranian section are 500 trillion cubic feet of natural gas in place and around 360 trillion cubic feet of recoverable gas which stands for 36% of Iran’s total proven gas reserves and 5.6% of the world’s proven gas reserves.

Gazprom was involved in developing Iran’s South Pars gas project, but its participation was stalled because of sanctions.

LNG World News Staff; Image: Gazprom