Philippine Firm Says to Build LNG Plant in Iran

TEHRAN (Tasnim) – President of state-own Philippines National Oil Co. (PNOC) Pedro Aquino said the Southeast Asian country plans to build an LNG (Liquefied natural gas) plant in the Islamic Republic.

Philippine Firm Says to Build LNG Plant in Iran

Aquino, who was in Tehran for Iran Oil Show 2017, said PNOC has reached an agreement with the National Iranian Oil Company (NIOC) to set up an LNG plant in the country, Shana news agency reported.

Aquino also said that PNOC will purchase 400,000 barrels per day of oil from Iran for a new refinery being built in the Philippines.

The new refinery, expected to be launched in the next three years, will be compatible with a variety of Iran’s light and heavy crude oils. However, if other refineries show readiness, purchases from Iran will take place sooner.

He added that Tehran and Manila also recently signed an agreement whereby PNOC will cooperate with Iran to develop phase 3 of Dorkhovin and Pazanan oilfields in Iran. 

The 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition, known as Iran Oil Show, was held in the Iranian capital on May 6-9 with more than 4,000 domestic and foreign companies showcasing their latest technical achievements.

Countries such as China, Germany, France, Italy, Spain, Turkey, Russia, Japan, the Netherlands, Austria, South Korea and Australia had their own pavilions in the Iran Oil Show.

Major foreign exhibitors included Wintershall Holding GmbH (Germany), Siemens (Germany), Lukoil (Russia), OMV (Austria), and ONGC (India).

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