Page 47 - IRANRptJul22

Iran launches tenders for LNG terminals
In anticipation that the nuclear deal will be renewed, Iran has announced tenders for gas liquefaction (LNG) projects, SHANA reported. State-owned National Iranian Oil Co. (NIOC) announced that it is accepting bids for the construction of small LNG terminals until April without specifying the size, location or construction time needed for the projects.
“Iran is resuming efforts to export LNG as Europe tries to reduce dependence on Russia, and negotiations are underway to lift sanctions on the country. The previous eight Iranian LNG projects have stalled due to restrictions and lack of capital, including partnerships with France's Total and Russia's Gazprom," Bloomberg correspondent Stephen Stapczynski tweeted on March 15.
Iran has three large LNG projects: South Pars LNG with a capacity of 10mn tonnes per year with Total, Persian LNG with a capacity of 16.2mn tpy with Shell and Iran LNG with a capacity of 10.8mn tpy. Most of the work on the latest project had been completed, but the resumption of US sanctions in 2018 meant that the German Linde was unable to deliver equipment to Iran.
As noted by Argus, in 2019 the country produced 244bn cubic metres of gas, but with high consumption, only 20 bcm was exported, which went to Turkey and Iraq.
Russian Foreign Minister Sergei Lavrov said Moscow had received US written assurances that sanctions would not apply to Russia's co-operation with Iran and was in favour of resuming the deal as soon as possible.
9.0 Industry & Sectors 9.1 Sector news
9.1.1 Oil & gas sector news
Former NIOC head says sanctions keeping Iran out of international oil market are opening way to global recession
Sanctions that deny Iran entry to the international oil market are opening the way to a global recession, according to a former head of the National Iranian Oil Company (NIOC), as cited by energy news provider Shana. Hojjatullah Ghanimi-Fard was reported as observing that if the sanctions were lifted Iranian crude could replace Russian shipments that are increasingly out of reach for countries looking to punish Russia economically for its war in Ukraine.
Ghanimi-Fard, a former adviser to the secretary-general of the Organisation of the Petroleum Exporting Countries (OPEC), said: “More supply can help calm oil prices and prevent a recession in the global economy caused by rising prices.
“With reduced consumption in various industries, economic growth will gradually decline and then the world economy will be accompanied by a recession.”
The way out of a global economic recession was the full return of Iranian, Venezuelan and Libyan oil to the market, he added.
“For example, the return of Iranian oil to the market will reduce prices and prevent a decline in demand, and will eliminate the global recession that many predict will occur later this year or early next year,” Ghanimi-Fard was further quoted as saying.
47 IRAN Country Report July 2022 www.intellinews.com