“We will be applying our company’s technology and expertise in mid-scale LNG projects to enable the Qeshm LNG Project to achieve its first shipment of LNG in the first quarter 2010,” said LNG managing director Maurice Brand.
The Perth-based LNG technology junior will develop the Qeshm project in partnership with Civil Pension Fund Investment Company Iranian.
The National Iranian Oil Company (NIOC) board has approved a deal under which 530 million cubic feet per day (MMcfd) of gas will be supplied to the proposed LNG production project on Qeshm Island.
The Qeshm LNG Plant will probably be developed in three phases with a first-phase production capacity of 1.15MMtpa and first LNG shipment in the first quarter 2010, according to LNG Ltd. Export approval/permission has been received from NIOC with the destinations to be coordinated with the National Iranian Gas Export Company.
The parties aim to negotiate and agree a buyback agreement and gas sales agreement in relation to identified gas fields within six months.
LNG Ltd is moving to review all relevant data in relation to the onshore Gashoy gas field, which has potential gas-in-place reserves of 5 trillion cubic feet (Tcf) and the onshore Salakh gas field, which has gas-in-place reserves of 1.5Tcf.
The company is also cooperating with the relevant Iranian authorities on selecting a preferred LNG site on Qeshm Island, agreeing on LNG sales destinations, and entering into an LNG sales heads of agreement.
