Page 6 - DMEA Week 36 2022

DMEA SECURITY & POLICY DMEA

Energy markets track Iranian-Russian

plan to dominate global LNG supply

MIDDLE EAST GLOBAL energy markets are watching for the largest (48 tcm).
progress, or otherwise, with a plan outlined by NIOC says Kish will source growing
Iranian and Russian officials to work their way amounts of gas from the North Pars gas field
towards Iran and Russia achieving dominance (1.67 tcm of reserves) and South Pars gas field
on the global LNG market, with a planned (14 tcm of reserves), plus from other gas fields.
refining and export hub on Iran’s Gulf of Oman If Iran can move into a new sanctions-free
(Indian Ocean) island of Kish being key to the era, work on establishing floating LNG (FLNG)
ambition. terminals (FLNGs), with storage and regasifi-
Iran’s Petroleum Minister, Javad Owji, has cation facilities, especially in and around conti-
increasingly identified Kish, located off the nental Europe, would also be stepped up. ™
south-western coastal province of Hormuzgan
near the entrance to the Persian Gulf, as criti-
cal in the project, given the Indian Ocean offers
direct access to both East and West.
Developing the LNG project at Kish, also
increasingly important to Iran’s high-value pet-
rochemical production plans, could cost around
$25bn, according to briefings given to Iranian
media by Owji. Much of the required finance
would be drawn from the recent $40bn Gaz-
prom-National Iranian Oil Company (NIOC)
oil and gas deal signed as a memorandum of
understanding (MoU). Iran and Russia, mean-
while, are continuing with efforts to bring Qatar
firmly into their planned “Gas OPEC? alliance.
Iran holds the second largest gas reserves in
the world (33.8 trillion cubic metres), and Russia The LNG, refining and export hub on Kish Island is key to Iran’s plans (Image: IOOC)

COMPANIES
South Africa’s Sasol, Japan’s Itochu agree

to collaborate on green ammonia project

AFRICA SOUTH African integrated energy and chem- The MoU was signed during the Tokyo
ical company Sasol has signed a memorandum International Conference on African Develop-
of understanding (MoU) with Japan’s general ment (TICAD 8) in Tunisia, which is a forum to
trading firm Itochu Corp. to jointly study and advance Japan-Africa sustainable development
develop the market and supply chain for green on the continent.
ammonia with a focus on its use as bunkering MUFG Bank Ltd, the largest bank in Japan
fuel and for power generation. and a market leader in sustainable financing
The companies said in a September 2 press solutions, witnessed the signing.
release that they would assess Itochu’s poten- Green ammonia is produced from green
tial involvement in Sasol’s green ammonia hydrogen, whic-h in turn is produced from
export-orientated projects, including product renewable electricity, such as solar and wind,
offtake. through an electrolysis process.
Financial support from Japan for studies Green ammonia can also be “cracked” back
and grants relating to green ammonia projects to hydrogen gas for further applications, says
in South Africa will also be evaluated, they said. Sasol.

P6 www. NEWSBASE .com Week 36 08•September•2022