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Chinese Trader Signs MOU For Purchase Of Iranian LNG

Chinas state-owned oil trader Zhuhai Zhenrong Corporation announced on 18 March that it had signed a memorandum of understanding (MOU) with the National Iranian Gas Export Company (NIGEC) for the import of more than 110mn tons of LNG over a 25-year period. The MOU envisages sales of Iranian LNG to China beginning in 2008 at an initial rate of 2.5mn tons/year, rising to 5mn t/y in 2013. A Zhenrong spokeswoman...