IRAN - The LNG Export Ventures.

There are four LNG export ventures in Iran all based on South Pars gas: (1) A 100% owned 10.6m t/y NIOC LNG based on South Pars Phase-12, which may sell equity to Indian and/or Chinese partners; (2) Pars LNG, 8-9m t/y - 50% NIOC (NIGEC), 30% Total and 20% Petronas; (3) Persian LNG - 9-13m t/y - 50% NIOC, 25% Shell and 25% Repsol/YPF; and (4) Iran LNG - 5-9m t/y - with NIOC's partners likely to include BG Group and/or Indian and Chinese companies (see background in Vol. 60, Gas Market Trends No. 15).

In October the Oil Ministry inked a preliminary $100 bn deal with China for 10m t/y of LNG over 25 years. And India's government recently authorised its petroleum minister to begin talks with Iran to buy LNG and/or natural gas that could transit a pipeline running through Pakistan.