“A memorandum of understanding (MoU) has been signed with a respectable German company which possesses the technology to build LNG tankers. Preliminary accords have also reached with several South Korean and Chinese firms,” said Esmaeil Sadeqi, an Iranian project manager, Bloomberg reported on Monday.

Under the MoU, the technology transfer for sophisticated VLNG construction would come from foreign partner firms.

Iran plans to build a capacity for exporting 40 million metric tons a year of LNG which is super-cooled to minus 162 degrees Celsius for shipment by special tankers.