Pakistan Information & News

Iran announced that it has signed a deal with Thailand for exporting liquefied natural gas (LNG).
Iran’s oil ministry revealed that an agreement to sell LNG to Thailand was signed between Pars LNG Company, and Thailand’s PTT Exploration and Production Public Company Ltd (PTTEP). Pars is affiliated with the National Iranian Oil Co, while PTTEP is the second biggest natural gas producer in Thailand. Thai energy minister Viset Choopiban and Hadi Nejad-Hosseinian, Iran’s deputy oil minister for international affairs, supervised the signing of the agreement. The agreement was signed in Teheran on Saturday. Under the agreement, Iran will export 3 million tons of LNG to Thailand from 2011.
Increasing global demand for Iran’s LNG is going to harm India and Pakistan’s interests. Due to global demand, Iran has decided not reduce the price of its LNG for the two countries. It was expected that if the proposed USD 7.4 billion pipeline between the countries comes through, Iran will lower LNG price. However, Nejad-Hosseinian has categorically stated that European countries are willing to pay a “heavy price” for Iran’s gas. If the demand increases, Iran will not be able to supply both Europe and the two Asian countries. In such a scenario, India and Pakistan will not be supplied LNG. Instead, Iran is planning to increase its supply to Europe via Turkey through the Nabucco pipeline.
Iran is also being courted for its oil by Iraq. Iraqi Oil Minister Husayn al-Shahristani met with the Iranian Ambassador to Baghdad, Hasan Kazemi-Qomi to discuss mutual co-operation between the countries, laying special emphasis on the oil sector. The Iranian Ambassador said that his country was willing to welcome all proposals and was keen on the joint well exploitation proposal.

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