Iran, Poland to Ink $2bln LNG Contract

TEHRAN (FNA)- Iranian Offshore Oil Company (IOOC)and Polish Oil and Gas Company (PGNiG) are about to sign a 2-billion-dollar liquefied natural gas (LNG) contract.

“Recently Poland requested to invest in Lavan gas field whose volume of gas-in-place is around 10 trillion cubic feet (TCF),” IOOC managing director Mahmoud Zirakchian Zadeh said on Saturday, the News Network of Iran’s state-run tv reported.

Zirakchian Zadeh stated that the contract will most probably be finalized.

“The Polish side has declared its readiness to invest in the Persian Gulf’s Lavan gas field development plan to export the produced LNG gas to Poland,” he added, according to Tehran Times.

Poland, which depends on Russia for 48 percent of its gas imports, has made diversification of supply a priority and the deal with Iran could potentially pave the way for such a move.

In recent months, PGNiG signed several deals that could allow it to import gas from countries such as Libya and Denmark.