Iran Envisions Becoming Major Player in Global Gas Market - Rules Out Shipping Its Gas to Europe via Pipeline

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Iran Envisions Becoming Major Player in Global Gas Market - Rules Out Shipping Its Gas to Europe via Pipeline

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Anticipating the complete lifting of sanctions on Iran's oil and gas sector during the course of 2016, Iran's Minister of Petroleum Bijan Zanganeh says Iran will soon become a major player in the global gas market.

To this end Iran is in various stages of negotiation with its neighbors (Pakistan, India, Oman, Iraq) concerning the construction of gas pipelines. But more importantly, in Zaganeh's view, is the advanced development of Iran's first LNG terminal, providing Iran with more options for the export of its gas to Europe and to Asia in the near future: "LNG is the only option for the time being to export gas to Europe and Asia," he said.

Iran plans to build a capacity for exporting 40 million metric tons a year of LNG which is super-cooled to minus 162 degrees Celsius for shipment by special tankers.

The country is also in serious talks with several foreign oil refiners to buy their shares, Zangeneh said on Tuesday.

“If we manage to buy shares in foreign refineries, we can sell our oil at higher prices," he said.

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