The Annual Offshore Oil & Gas Event
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The Iranian government has temporarily suspended a major gas deal with China over a lack of financing power by the Chinese, Iran's Mehr news agency reported on Monday.
In March 2009, Iran LNG Company signed a liquefied natural gas (LNG) deal worth 2.6 billion euros with a Chinese consortium.
The deal was aimed to launch production lines in Iran LNG Company with an annual production of around 10.5 million tonnes.
But the Chinese have not met their obligations for financing the project.
A source close to the issue told the news agency that the deal "can be put into effect once again if the Chinese consortium manages to secure the finance."
Iran will export the first LNG consignment in 2013, Deputy Oil Minister Mohsen Khojastemehr said in June.
He said LNG exports would amount to 10 million tons per year.
The 26rd Beijing International Offshore Oil & Gas Exhibition is an annual gathering of petroleum and petrochemical industry. With a magnificent exhibition space of around 120,000 sqm, 18 national pavilions.Read More >
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