Iranian Oil Minister Bijan Namdar Zanganeh said the country plans to construct an LNG park with an annual capacity to produce three million tons of liquefied natural gas.
“We are planning to enter the LNG industry tapping into domestic capabilities and with the help of Iranian companies,” Zanganeh told Tasnim.
“We have a plan to build an LNG park by constructing mini LNG (plants) that will have a capacity of three million tons, … which will be reached with (production by) small units,” he added.
Asked about the participation of domestic companies in the construction process of the LNG park, Zanganeh said domestic companies will be investors but the issue of construction is a different matter.
Last month, Zanganeh had said that the country’s extraction of gas from the South Pars gas field would reach 750 million cubic meters per day by the end of the current Iranian calendar year (March 2020).
Liquefied natural gas (LNG) is natural gas that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport.
It takes up about 1/600th the volume of natural gas in the gaseous state.