Iran and South Korea sign co-development deal for small LNG units

Iran and South Korea signed a deal to jointly develop small liquefied natural gas units, while cooperating on technology, officials said.

The four-year deal includes developing the technical savvy needed for the construction of ISO containers for LNG units by consortiums from Iran and S. Korea, Saeid Pakseresht, director of research and technology at the National Iranian Gas Company (NIGC) was quoted by Iran’s Shana news agency.

Pakseresht said the two Asian countries would share the patent rights of the technology.

Such LNG units can be easily transported to different areas given their compact size.

South Korea’s Oceanus is leading a Korean consortium whose members include KITECH, KGS, Gs E&C, Sung-IL Encare, DongHwa Entec and KoGas Tech, S. Korea’s biggest importer of LNG and the country’s main gas supplier.

NIGC will lead the Iranian consortium comprising LNG Institute of Tehran University (ILNG), the Research Center of Petroleum Industry (RIPI) and a number of other local companies.

Iran has signed several deals with foreign energy companies in the past 16 months since sanctions against it for pursuing nuclear development in exchange for curbing those projects.

It is on a rampage to develop its oil and gas assets and catch up with years of disrepair and lagging technology development. | Tuesday, 13 June 2017

Share this post

-113 Days 20 Hours 31 Minutes 56 Seconds to start Conference