Official: Gas exports to Europe could begin in two years
Iran is actively seeking new opportunities for the production and exports of natural gas, including the development of liquefied natural gas (LNG) facilities to commence shipments to Europe in two years, said the managing director of the National Iranian Gas Export Company.
"Europe definitely could be considered," Alireza Kameli told the Wall Street Journal.
According to the official, Tehran has been in talks on the construction of floating LNG facilities with several European companies, including the Golar LNG international operator of LNG carriers. The project is due to be implemented in less than two years, Kameli added.
Iran is also considering the supply of gas to its Persian Gulf neighbors, namely Kuwait and the United Arab Emirates, as their reserves are not significant and a pipeline to them will be short.
Iran considers Saudi Arabia a major potential buyer. "They don’t have the choice but to approach Iran," Kameli said.
In July, Iran and the P5+1 comprising Russia, the United States, China, the United Kingdom, France and Germany, reached a deal to ensure the safe nature of Tehran's nuclear program in exchange for the lifting of sanctions, including embargoes on trade in gas and oil.
On January 16, the International Atomic Energy Agency verified Tehran's compliance with the Joint Comprehensive Plan of Action (JCPOA), opening the way for Iran's return to the global energy market.