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Iran Signs LNG Deal with Repsol and Shell

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Iran Signs LNG Deal with Repsol and Shell TOP STORIES Gas Exporters forum to be SP Phases 9, 10 held in April Platforms to Become atar will host a meeting in April of gas exporters. The meeting Operational Next June Qcomes after Iran made overtures to Russia last week about establishingestablishing a ggasas ggroupingrouping llikeike OOPEC.PEC. roject manager of South “In the next meeting of the gas exporting countries, they will PPars gas field’s phases 9 decide about a gas OPEC,” Vaziri Hamaneh noted. and 10 announced that the plat- forms of the two phases would come on stream next June. The Weekly Publication of the Iranian Petroleum Industry No. 335, New Edition February 12, 2007 Morteza Emami our reporter that the two projects had so far made an about 64 percent Count Down physical progress in the A Blue Print: Gas Cooperation Organization onshore and offshore parts. “The figure related to the NIOC to make FID on Pars manufacture of platforms is LNG Project by mid Feb. Strategic Proposal 76 percent,” said the manager. he National Iranian Oil ointing to the fact that complementary partners in the tial for their expansion, Supreme him a written message, which was All equipment required for the TCompany plans to make a PIran and Russia control political, economic, regional and Leader of the Islamic Revolution delivered by Ivanov. offshore part had been already final investment decision on its about half of the world’s gas international arenas,” Ayatollah Ayatollah Ali Khamenei said here “Active cooperation between provided, said Emami, adding Pars LNG Project by mid Feb- reserves, the Leader proposed Khamenei told Russian Security last week. the Islamic Republic of Iran and 90 percent of the equipment ruary, the managing director of including metal structures was the Pars Oil and Gas Company that “the two countries can Council chief Igor Ivanov. The Leader said that both Iran Russia on regional issues within jointly establish an organiza- The Islamic Republic of Iran and Russia would benefit from a defined framework can prevent supplied by domestic plants. announced last week. According to the official, 85 “NIOC will hold talks with its partners France’s Total tion like OPEC for dealing welcomes the development of enhanced ties. the U.S. from becoming the sole with gas cooperation.” ties with Russia in all areas and He also thanked Russian Presi- power in the region,” Ayatollah percent of equipment needed and Malaysia’s Petronas over the FID of the Pars LNG by the onshore section has been Project after they reach a consensus on prices of the down- “The two countries can be two believes that there is great poten- dent Vladimir Putin for sending Khamenei said. stream and upstream parts of the project,” Akbar Torkan purchased and stored at the Assa- told reporters. louyeh site. Under the Pars LNG Project, Iran will produce liquefied natural gas (LNG) from phase 11 at its giant South Pars Hengam Gas Field gas field. The project is to be implemented by the NIOC development to and the consortium of Total and Petronas. Iran is also seeking another project dubbed ‘Iran LNG’ Iran Signs LNG Deal with start pending NIOC to produce the liquefied natural gas from the SP phase approval 12, Torkan stated. he development of the TPersian Gulf Hengam Glory Repsol and Shell Gas Field will begin once the National Iranian Oil Company NDC starts drilling 9th well at approves the results of the studies on reserves, said the managing Turkmen field director of the Petroiran Devel- ran’s North Drilling opment Company. ICompany has recently started “PEDCO is currently conduct- the drilling of the ninth well ing studies on Hengam’s reserves at a Turkmen hydrocarbon and preparing the Master Devel- field, NDC Managing Director opment Plan (MDP). The MDP Asghar Rafiie announced. and the results of the studies will The NDC is using Iran-Khazar Rig for the drilling at the Turkmen field, he told reporters then be presented to NIOC for without going into details. final approval,” Mostafa Khoyi The Iranian company is carrying out drilling operations elaborated. After being con- at the Turkmenistan’s hydrocarbon fields, according to firmed by NIOC, the develop- an agreement signed with the Caspian Sea littoral state in ment of the field will be started, 2004. The company is tasked to drill a total of ten wells by the official noted, adding that May 2007. NDC is a subsidiary of the National Iranian the project is now 97 percent Oil Company which is engaged in offshore and onshore complete in terms of studies and drilling activities through the use of semi-submersible, preparation of the MDP. jack-up, and heavy land drilling rigs. The offshore Hengam Gas Field, which is shared with It is Possible Oman, is located 20 kilometers off Qeshm Island. Iran and Oman World’s Largest Methanol have been discussing the joint development of the field since Plant to Come on Stream The project with Repsol and Shell would involve developing phases 13 and 14 of the South Pars gas field in the Persian Gulf last summer. he first unit of Zagros Pet- Trochemical Complex in ran had signed an initial deal the feasibility of the project,” be signed in days and put the can be transported on tankers. Iran to start gas southern Iran, the world’s largest Iwith Spain’s Repsol and the source said. value at $4.3 billion for an “This contract is the biggest methanol plant, is undergoing Royal Dutch Shell to produce “The important thing is that LNG plant and port terminal. project of its kind for invest- exports to Austria, the final stage and will become liquefied natural gas from the the final decision to develop Nozari said the $10 billion ment and the amount of gas to Switzerland in 2012 operational in the near future. According to the National South Pars gas field. the LNG project is a year or price tag was for both upstream be turned into LNG,” Nozari inister of Petroleum Petrochemical Company, the project has made Gholam Hossein Nozari, so away.” work and the LNG facilities. was quoted as saying, adding MKazem Vaziri-Hamaneh 99.5 percent physical progress and the engi- head of state-owned National A deal would be a blow to The source said the LNG plant that the deal, signed last week, announced last week that Iran neering and logistical operations have finished. Iranian Oil Company, was Washington, which in addi- would cost about $2.5 billion would be based on Iran’s so- will start gas exports to Switzer- The project’s civil and pipe-laying operations had quoted by a news agency tion to barring US investment and the port terminal and other called “buyback” terms. land and Austria in 2012. already been carried out, said the company, adding as saying the deal would be in Iran, has been stepping up infrastructure would cost about Under Iran’s “buy back” Iran has signed memorandums the construction operations started in 2001 and the worth $10 billion and said pressure on non-US firms to $1.8 billion, the source said, contracts, investment in of understanding with Switzerland plant was expected to produce 1.65 million tons of a final investment decision refrain from investing in Iran. adding that exports - if the and Austria, and, “Gas transfers to methanol per year after being fed by 1.488 million developing a field is rewarded was expected by the end of The project with Repsol and project went ahead - could with a share of production these European states will begin in cubic meters of natural gas annually and two million 2012,” some news agencies quoted cubic meters of oxygen per day. 2007. Shell would involve developing start in 2011 or 2012. for a short period before the “The project has certain features as an auto-thermal An industry source close phases 13 and 14 of the South Under the deal, Shell and Repsol state repurchases the field. Hamaneh as saying. reformer reactor has been applied to break up natural to the deal told report- Pars gas field in the Persian would each take a 25 per cent Iran has said it is reviewing the In late December, a news agency gas by pure oxygen and a cooled reactor gas is used ers the deal signed was an Gulf. stake in the project to produce terms of deals to make them reported the managing director of in the methanol production process,” the NPC said. upstream service agreement. A source said last Tuesday 16 million tons a year of LNG, more attractive, after criticism the National Iranian Gas Export Zagros Petrochemical Complex Managing Director “It is part of the work to assess such a preliminary deal would super-cooled natural gas that from foreign investors. Company as saying that Iran and Mehdi Hamidi told our reporter the second methanol Switzerland have signed a heads unit would be inaugurated in late March 2007 – earlier of agreement on gas transfer to the than the due time. Hot Topic European state Several petrochemical projects in southern Iran are expected to come on stream in the next eight months. The ethylene unit at Zagros, being commissioned at the ENERGY ATAT A GLANCEGLANCE moment, is to reach annual capacity of 1.6 million tons Malaysia to build refinery in Andimeshk by the yearend while the largest aromatic and olefin Malaysian company plans to begin construc- Under the agreement, which is valued at over Algeria's Oil and Gas Exports units at Borzouyeh and Jam respectively will start Reach $52Bn In 2006 producing in first half of the next Iranian calendar year.
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