Page 45 - bne IntelliNews Country Report: Iran Dec17

9.1.9 Metallurgy & mining sector news
The Iranian Industrial Mines and Mining Industries Development and Renovation Organisation (IMIDRO) has signed a memorandum of understanding with the Czech government on boosting mining cooperation, Tasnim News Agency reported on October 10. The document was signed in Tehran between Czech Deputy Minister of Industry and Trade Eduard Muricky and IMIDRO chairman Mehdi Karbasian at the Iranian state body's headquarters. Karbasian said: “Czechia has good capacity in terms of technology in mining machinery and equipment and we are willing to develop ties with your country.” “The formation of joint working groups for mining cooperation can pave the way for exchanging experience and the latest mineral and industrial technologies,” he added. On October 8, Prague announced it would open a €100mn credit line for Czech companies looking to enter the Iranian market. “A glance at the economic and business exchanges between the two countries indicates growth in Czech exports to Iran of 60% over the last year and what's more many companies have expressed their readiness to invest in Iran,” Czech Ambassador to Tehran Svatopluk Cumba told Iranian reporters after the credit agreement was signed.
9.2 Major corporate news 9.2.1 Oil & gas corporate news
National Iranian Oil Company says it has signed a deal with Oslo-based IFLNG for the barge-based production of liquefied natural gas (LNG) in Iran, LNG World News reported on October 27. According to the deal signed between NIOC and IFLNG—a joint venture set up by Hemla Vantage and Kharg Gas Refining Company—the Exmar-owned floating liquefied natural gas vessel Caribbean FLNG (CFLNG), capable of producing 0-5 mtpa of LNG per year, should be deployed at the Pars Service Port. There it will be delivered 2.3mn cubic meters per day of natural gas from the Persian Gulf's South Pars field—the world's largest gas field which is shared between Iran and Qatar. NIOC stated that the two companies have already taken the required steps to implement a 20-year deal for natural gas sales. However, in answer to a Reuters inquiry, Belgium-based Exmar’s spokesperson said the talks about the use of the CFLNG vessel were not completed. No deal had been signed as yet, they said. The CFLNG completed its performance test at the Wison yard in Nantong, China in September last year. It has a storage capacity of 16,100cbm and a liquefaction capacity of 500,000 tonnes per year. Iran has the second largest gas reserves in the world. Companies such as French energy major Total have agreed to develop the Iranian part of the South Pars field.
A barter deal according to which Russia will send goods to Iran in return for crude oil will commence within a month, Russian Energy Minister Alexander Novak said on October 5. Novak’s announcement followed an October 4 report from Russian news outlet Sputnik which quoted an oil industry source as saying that Lukoil and the National Iranian Oil Company (NIOC) had signed two memoranda of understanding in the field of geological prospecting. "At the beginning of the visit of Iranian Oil Minister [Bijan Namdar Zangeneh] to Russia, an MoU was signed between the National Iranian Oil Company and Lukoil," the source reportedly said, also noting that
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