Iran to unveil LNG orders in South Korea and China

National Iranian Tanker Co (NITC) will unveil a raft of LNG orders in South Korea and China as well as plans to build gas ships on home soil, according to reports.

NITC officials have been in both countries recently looking at crude tanker orders and LNG carriers. Local media in Iran claim LNG orders will be announced soon following the visits.

Iran is preparing for sanctions on its petrochemical industry to be lifted and for it to re-emerge as a large energy exporter.

Tehran is looking to tap foreign expertise to form joint venture constructions of LNG carriers at a yard near Bandar Abbas, according to local media. VLCCs built domestically are also under consideration.

Separately, Iran is looking to speed up its limited gas infrastructure by bringing in an FLNG and has started discussions with Belgium’s Exmar. The FLNG would be brought into Iran’s Kharg region.

Iran has the world’s second largest reserves of gas, estimated to be around 34trn cu m. Sanctions by the US and EU against the country are likely to be lifted early next year.

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