Natural Gas Asia reports that Iran LNG Company is set to launch its first LNG plant.
The first phase of the plant which is 65% complete includes a 1,100-megawatt power plant, storage facilities for LNG and liquefied petroleum gas (LPG) as well as offshore docks, Press TV reported citing a Mehr News Agency
Iran is likley to deliver its first consignment of LNG on international markets before March 2014. The plant is expected to cost almost $5 billion.
The plant would be able to produce 10.5 million tons per year of LNG, earning the country more than $20 million a day.
On March 26, Iran LNG Company (ILC) filed a lawsuit with an international tribunal against the European Union (EU) for its “unilateral and illogical” ban on Iran’s mainstream producer of liquefied natural gas.
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