News & Reports News Year 2011 January , 2011 $450m allocated to LNG project

$450m allocated to LNG project

The Iran Natural Gas Liquefaction Company director said that $450 million has been set aside for the Iran LNG project.

The Mehr News Agency quoted Ali Kheyrandish as saying that in two years time the company will be selling LNG in the market.

He stated that currently final talks are underway with the banks’ syndicate for allocating $900 million from the forex savings account for the Iran LNG project.

The official noted that to finish the project another $3 billion should be added to the $1.5 billion spent so far. The project is 40 percent complete.

Upon completion Iran LNG will produce 10.8 million tons of liquefied gas a year in Tonbak region of the southern Iranian port of Assaluyeh.
(tehran times)