Iran, S. Korea Seal LNG Deal

Iran and South Korea have signed a technological cooperation agreement to for jointly developing small liquefied natural gas units.

The 4-year deal concerns developing the technical savvy needed for construction of ISO containers for LNG units by consotriums from Iran and S. Korea, said Saeid Pakseresht, director of research and technology at the National Iranian Gas Company (NIGC).

He said based on the agreement, the two Asian countries will enjoy the patent rights of the technology.

Such LNG units can be easily transported to different areas given their compact size.

In the agreement, South Korea’s Oceanus is leading a Korean consortium whose members include KITECH, KoGas Tech, Gs E&C, Sung-IL Encare, DongHwa Entec and KGS.

NIGC heads the Iranian side of the agreement that is a consortium comprising LNG Institute of Tehran University (ILNG), the Research Center of Petroleum Industry (RIPI) and a number of other local companies.

The deal was signed on June 08 at Oceanus headquarters in Pusan, South Korea.

KoGas is S. Korea’s biggest importer of LNG and the country’s main gas supplier.

(Source: Shana)

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