The National Iranian Oil Company’s (NIOC) CEO, Ali Kardor, remarked on gas exports to Europe that Iran plans to establish a floating LNG units with 10mt in annual production capacity and building smaller LNG production units which has been put on the agenda within mini-LNG and FLNG projects, Hellinic shipping news reported.

Kardor said that so far a number of negotiations have been held with credible international firms as well as domestic private sector companies, in order to assign all shares of LNG and FLNG units to qualified international companies, according to The Financial Tribune. He added that they are in the final stages of negotiations to hand over the ownership of an FLNG project to a Norwegian investor. The proposed units would each have an output of between 500,000t and 2mt/y.

Furthermore, Iran aimed to produce 70mt of LNG from the South Pars, North Pars, Ferdowsi and Golshan gas fields by launching six LNG production facilities. In which it has close to 34tcm of natural gas reserves, which is around 18% of the global gas reserves.