Korean Firms Sign Power Technology Deals
TEHRAN (Dispatches) – Iran’s
state-run holding company Tavanir
have signed two agreements with
Korea Electric Power Corporation
(KEPCO) for cooperation in electrical projects using state-of-the-art
technology.
Based on the agreements, the
South Korean company will help
Iran recover SF6 gas (sulphur
hexafluoride) in the electricity
industry in compliance with the
Clean Development Mechanism
(CDM), and assist Iran in developing Building Energy Management
System (BEMS) solutions in the
construction industry.
Sulfur hexafluoride is an inorganic, extremely potent greenhouse gas, which is an excellent
electrical insulator. It is widely
used in the electricity industry.
South Korea will now help Iran
recover the gas, according to the
Clean Development Mechanism,
defined in Article 12 of the Kyoto
Protocol, which allows a country with an emission-reduction or
emission-limitation commitment
to implement an emission-reduction project in developing countries.
The other agreement would allow Iran implement BEMS in
buildings to save energy. BEMS
are computer-based control systems that control and monitor a
building’s mechanical and electrical equipment such as heating,
ventilation, lighting, and power
systems. They connect the building facilities to a central computer
to allow control of on/off times,
temperature, humidity, etc.
In September 2016, Head of
Iran’s Trade Promotion Organization (TPO) Mojtaba Khosrotaj
said in an official visit to South
Korea that Tehran and Seoul have
agreed to promote bilateral trade.
He noted that Iran seeks establishment of joint research and development centers by Iranian and
Korean companies.
TEHRAN (Dispatches)- Iran’s
petroleum minister has hinted that
the country is looking into the possibility of bringing in the French
energy giant Total to develop a key
project to liquefy natural gas for
exports to Europe.
Bijan Zanganeh told reporters
that serious talks with Total were
underway over the development
of Phase 11 of Iran’s South Pars
natural gas hub.
Zanganeh added that Iran’s priority for exports of gas to Europe
was to proceed with liquefied natural gas (LNG).
"Our priority is to export natural
gas to neighboring states through
pipeline. And we believe that the
best way to export gas to Europe
is through LNG,” he told reporters after meeting Miguel Arias
Canete, the European climate action and energy commissioner, in
Tehran.
Asked whether talks with Total
over the development of LNG
projects in Iran would continue,
Zanganeh emphasized that "Iran
would not reject that idea”.
"Nevertheless, Iran cannot wait
for investors indefinitely,” he emphasized.
Last November, Total signed a
basic agreement, worth $4.8 billion to develop South Pars Phase
11 in cooperation with China’s
CNPC and Iran’s Petropars. The
deal made the French major the
first Western company to seal a
giant economic deal with the Islamic Republic after the lifting of
the sanctions.
Phase 11 aims to produce 1.8
billion cubic feet a day of gas
among other products.
Total has already announced
that it would have to wait to see
if the U.S. would renew sanctions
waivers against Iran in June before proceeding with a final investment decision over the project in South Pars.
In early 2000, the company was
negotiating with Iran over production of LNG from the same
phase – a project that had been
named as Pars LNG at the time.
However, the plan was filed in
2011 after Total had to quit Iran as
a result of international sanctions
that banned investments in Iran’s
energy projects.
The lifting of the sanctions in
early 2016 prepared the grounds
for the return of international investors to the country. However,
major players like Total that have
high stakes in the U.S. will still
have to wait for Washington to renew waivers on sanctions against
investments in Iran.
OPEC, Non-OPEC States
Support for Output Cuts
Elsewhere, Zanganeh said
OPEC and non-OPEC member
states have indicated their support
for extending a crucial agreement
by world’s biggest producers to
cut outputs.
"During these last days we received a positive signal from
OPEC members and non-OPEC
contributors in this agreement for
cutting the production for extending this agreement for the second
half of 2017,” Zanganeh told reporters, according to media.
In December 2016, the Organization of the Petroleum Exporting Countries (OPEC) reached a
landmark agreement with Russia
and other non-members to proceed with the plan and slash oil
production by nearly 1.8 million
state-run holding company Tavanir
have signed two agreements with
Korea Electric Power Corporation
(KEPCO) for cooperation in electrical projects using state-of-the-art
technology.
Based on the agreements, the
South Korean company will help
Iran recover SF6 gas (sulphur
hexafluoride) in the electricity
industry in compliance with the
Clean Development Mechanism
(CDM), and assist Iran in developing Building Energy Management
System (BEMS) solutions in the
construction industry.
Sulfur hexafluoride is an inorganic, extremely potent greenhouse gas, which is an excellent
electrical insulator. It is widely
used in the electricity industry.
South Korea will now help Iran
recover the gas, according to the
Clean Development Mechanism,
defined in Article 12 of the Kyoto
Protocol, which allows a country with an emission-reduction or
emission-limitation commitment
to implement an emission-reduction project in developing countries.
The other agreement would allow Iran implement BEMS in
buildings to save energy. BEMS
are computer-based control systems that control and monitor a
building’s mechanical and electrical equipment such as heating,
ventilation, lighting, and power
systems. They connect the building facilities to a central computer
to allow control of on/off times,
temperature, humidity, etc.
In September 2016, Head of
Iran’s Trade Promotion Organization (TPO) Mojtaba Khosrotaj
said in an official visit to South
Korea that Tehran and Seoul have
agreed to promote bilateral trade.
He noted that Iran seeks establishment of joint research and development centers by Iranian and
Korean companies.
TEHRAN (Dispatches)- Iran’s
petroleum minister has hinted that
the country is looking into the possibility of bringing in the French
energy giant Total to develop a key
project to liquefy natural gas for
exports to Europe.
Bijan Zanganeh told reporters
that serious talks with Total were
underway over the development
of Phase 11 of Iran’s South Pars
natural gas hub.
Zanganeh added that Iran’s priority for exports of gas to Europe
was to proceed with liquefied natural gas (LNG).
"Our priority is to export natural
gas to neighboring states through
pipeline. And we believe that the
best way to export gas to Europe
is through LNG,” he told reporters after meeting Miguel Arias
Canete, the European climate action and energy commissioner, in
Tehran.
Asked whether talks with Total
over the development of LNG
projects in Iran would continue,
Zanganeh emphasized that "Iran
would not reject that idea”.
"Nevertheless, Iran cannot wait
for investors indefinitely,” he emphasized.
Last November, Total signed a
basic agreement, worth $4.8 billion to develop South Pars Phase
11 in cooperation with China’s
CNPC and Iran’s Petropars. The
deal made the French major the
first Western company to seal a
giant economic deal with the Islamic Republic after the lifting of
the sanctions.
Phase 11 aims to produce 1.8
billion cubic feet a day of gas
among other products.
Total has already announced
that it would have to wait to see
if the U.S. would renew sanctions
waivers against Iran in June before proceeding with a final investment decision over the project in South Pars.
In early 2000, the company was
negotiating with Iran over production of LNG from the same
phase – a project that had been
named as Pars LNG at the time.
However, the plan was filed in
2011 after Total had to quit Iran as
a result of international sanctions
that banned investments in Iran’s
energy projects.
The lifting of the sanctions in
early 2016 prepared the grounds
for the return of international investors to the country. However,
major players like Total that have
high stakes in the U.S. will still
have to wait for Washington to renew waivers on sanctions against
investments in Iran.
OPEC, Non-OPEC States
Support for Output Cuts
Elsewhere, Zanganeh said
OPEC and non-OPEC member
states have indicated their support
for extending a crucial agreement
by world’s biggest producers to
cut outputs.
"During these last days we received a positive signal from
OPEC members and non-OPEC
contributors in this agreement for
cutting the production for extending this agreement for the second
half of 2017,” Zanganeh told reporters, according to media.
In December 2016, the Organization of the Petroleum Exporting Countries (OPEC) reached a
landmark agreement with Russia
and other non-members to proceed with the plan and slash oil
production by nearly 1.8 million