The managing director of Iran LNG Company, a subsidiary of the National Iranian Oil Company, says Iran will soon start exporting Liquefied Natural Gas to Argentina and Cuba, Press TV reported.
Noting that Venezuelan National Oil Company has a 10-percent share in Iran's LNG project, Ali Kheirandish said on Saturday that the South American countries will be among the target markets for Iran's LNG, Mehr news agency reported.
The official added that Venezuela has long-term contracts with Argentina and Cuba to supply the countries with their required gas by 2013, noting that under the agreements inked between Tehran and Caracas part of their gas needs will be procured by Iran's LNG plant.
Kheirandish stated that 40 percent of the project to construct Iran LNG plant is completed, expressing hope that the project will be half complete by the end of the current Iranian calendar year (March 20, 2011).
According to the Letter of Intent signed between Iran and Venezuela, Tehran will help Caracas to build an LNG plant in Delta Caribe area, and Venezuela will also cooperate with the Islamic Republic to build an Iranian LNG plant in Venezuela with an annual production capacity of 5.4 million tons.
Iran LNG is a plant under development at Tombak Port in southern province of Bushehr - approximately 50 kilometers north of Assalouyeh Port and 15 kilometers southeast of Kangan - and will be connected to South Pars gas field by a 135-kilometer subsea pipeline.
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