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Iranian Companies Ink €6b Gas Deal

Service : Economy
TEHRAN, April 22 (ICANA) – Iran Power Plant Projects Management Co. (MAPNA) has signed a six-billion-euro agreement with Iranian Offshore Oil Co. (IOOC) to develop Iran's Forooz B gas field.
Friday, April 22, 2011 12:59:43 PM
Iranian Companies Ink €6b Gas Deal

Ahmad Ghalebani, the managing director of National Iranian Oil Company, said on Wednesday that MAPNA is expected to generate 6,000 MW of electricity using the natural gas of the Persian Gulf field, Mehr news agency reported.

Forooz B is estimated to hold approximately 29 trillion cubic feet (821 trillion cubic meters) of natural gas.

Ghalebani said that the MAPNA-IOOC contract would be finalized within the next six months.

"Following the implementation of Forooz B gas field project for generating electricity, a portion of it (electricity) would be exported to neighboring states," MAPNA Managing Director Abbas Aliabadi said.

Aliabadi added that the company would use Iranian and foreign contractors for the development of the project.

On Saturday, IOOC Managing Director Mahmoud Zirakchianzadeh said that MAPNA -- a major general contractor of energy projects in Iran -- will carry out the project in Iran's Persian Gulf island of Lavan within a four-year period.

MAPNA will generate 3,000 MW of electricity by using 15 million cubic meters of gas in the first phase and 6,000 MW of electricity by burning 30 million cubic meters of gas in the second phase of the project, Zirakchianzadeh added.

Iran, the world's 19th largest producer and 20th largest consumer of electricity, has integrated its electricity network into the power grids of seven neighboring countries, including Afghanistan, Pakistan, Iraq, Turkey, Armenia, Azerbaijan and Turkmenistan.

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