Iran, SKorea to cooperate on Mini LNG

EghtesadOnline: Iran and South Korea will start manufacturing the small units of producing liquefied natural gas (Mini LNG), four years after obtaining the technology, head of Research and Technology at National Iranian Gas Company (NIGC) said.

News ID: ۷۷۷۰۶۶

17 June 2017

“In case of acquiring the know-how, it will become possible to transfer LNG to remote areas,” Saeed Pakseresht said in a press conference on the details of Iran-South Korea Mini LNG agreement.

During the visit of Iranian delegation to South Korea, headed by Managing Director of NIGC Hamid Reza Araqi, the two sides agreed on cooperating in Mini LNG industry, IRNA quoted him as saying.

South Korea meet all its need to gas through LNG, therefore the country has made significant progress in the field, according to the official.

As there would be no money transfer, the signed agreement means the end of negotiations and the start of the implementation, Pakseresht said, adding that each party to the agreement is expected to invest 10 million dollars in the joint plan.

The capacity of manufacturing Mini LNG units, 15 tons per day at the start of manufacturing, will gradually increase to 300 tons, said Pakseresh.

“Gas and LNG are highly demanded as the fossil fuels are increasingly criticized,” he added.

The agreement was signed in June 8 in Busan, South Korea.