South Korea and Iran Collaborate on LNG Plant Construction
South Korea is set to establish Mini-LNG plants in Iran to address energy needs in remote regions. The project, involving a consortium of companies from both nations, aims for initial production of 15 tonnes per day with potential expansion to 300 tonnes per day.
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A consortium comprising South Korean firms Oceanus, Kitech Institute of Industrial Technology, and Korea Gas Technology Company will collaborate with Iran's National Iranian Gas Company (NIGC) and local research institutions to build small-scale liquefied natural gas (Mini-LNG) plants in Iran. The agreement was signed in Busan, with construction expected to start within four years.
Iran's Finance Minister will visit Seoul to discuss a $13 billion credit line for various energy projects, underscoring the financial commitment to enhance Iran's LNG capabilities. This partnership could significantly impact Iran's energy sector by improving access in remote areas.
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