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China`s Fortune Oil has signed a memorandum of understanding with the Research Center of Petroleum Industry. a subsidiary of the National Iranian Oil Company. and a domestic investor on designing and manufacturing a 500-ton liquefied natural gas plant.
Mansour Bazmi. the head of RIPI’s Technology and International Relations Department. and the CEOs of Fortune and the local investor signed the agreement in Tehran at the weekend. NIOC`s news portal reported.
According to Bazmi. the MoU is focused on technology transfer and entails the Chinese side to provide the know-how to design and build LNG units and offer engineering services.
`The cooperation can to a great extent help push Oil Ministry`s plans on boosting gas exports.` he said.
No further details on the location of the prospective plant and the value of investment have been released yet.
