Sunday, December 18, 2005

Sinopack O.K. on Iran-China energy cooperation

Iran Mania:
Sinopack of China is conducting negotiations with Iran on developing Yadavaran Oilfield and LNG export to its respective country. Mou Shulling, the executive director of the company, has called the talks with Iranian side constructive and positive in energy sector, the Persian service of PIN reported. READ MORE

Emphasizing on importance of Iran's oil and gas projects, he hoped that China and Iran could play complimentary roles in assisting each other in energy field and both sides may arrive at a comprehensive agreement in the course of friendly relations that exist between the two nations. He also reminded that production operation at Yadavaran may be performed in two phases, reaching 180,000 bpd and 300,000 figures respectively as anticipated.

As to LNG export, he considered China a giant energy market interested in Iran's assistance to cooperate on development of upstream, midstream and downstream projects in petrochemical sector. Furthermore, with reference to different views held on LNG price by each side, he trusted that both countries might come to a closer price range by conducting more comprehensive studies.

It is expected that ongoing negotiations between the Sinopack Company and Iran would offer a positive result by the next month.