Iran General NewsIran signs $16 billion prelim LNG deal with Malaysia

Iran signs $16 billion prelim LNG deal with Malaysia

-

Reuters: Iran and Malaysia’s SKS have signed a $16 billion preliminary deal to develop Iran’s southern Golshan and Ferdos gas fields and build plants to produce liquefied natural gas (LNG), state television reported on Sunday. TEHRAN (Reuters) – Iran and Malaysia’s SKS have signed a $16 billion preliminary deal to develop Iran’s southern Golshan and Ferdos gas fields and build plants to produce liquefied natural gas (LNG), state television reported on Sunday.

“The preliminary agreement to develop the fields was signed with Malaysia’s SKS,” Gholamhossein Nozari, head of National Iranian Oil Company(NIOC) told state television.

“This contract includes $16 billion investment and will take 25 years to complete” he told semi-official Mehr news agency.

He said SKS would have a 50 percent share of the produced LNG.

“Some $11 billion will be spent on the LNG facilities, which will produce 20 million metric tons of LNG, and $5 billion will be spent on upstream development,” Nozari told the state television.

Iran has the second-largest natural gas reserves in the world after Russia, about 940 trillion cubic feet, and it has been planning to produce LNG from its reserves for sustainable exports revenue.

According to Nozari, the two gas fields contain 60 trillion cubic feet of gas.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Tehran Mayor in Switzerland

Iran Focus: Tehran, Iran, Jan. 24 – The Mayor...

Iran warns of ‘difficult road’ in nuclear talks

AFP: Iran and world powers have a "difficult road"...

You might also likeRELATED
Recommended to you