Oil min.:

Iran to ship LNG to Europe

News ID: 3746279 -
TEHRAN, Aug. 20 (MNA) – Iranian Minister of Oil Bijan Zanganeh has announced that plans are being drawn up for exports of LNG to Europe.

Zanaganeh described Iran’s plan for gas exports to Europe saying “the main objective is to transfer the Iranian product in the form of Liquefied Natural Gas (LNG).”

The official also touched upon measures taken by the Oil Ministry to supply petrochemical complexes with feed asserting “the issue at stake is that producers need to pay taxes for selling feedstock to domestic petrochemicals and downstream industries while they enjoy tax exemption for selling products to global markets."

“Accordingly, companies producing feedstock are not eager to sell products to domestic customers due to tax payment requirements,” underscored Bijan Zanagenh.

He reiterated that “producers will not be charged by taxes for the profit they make in exports though for domestic activity, tax payment is required which discourages them from working with Iranian complexes.”

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