Gas

The US has looked at boosting its LNG exports for years. since drilling advances vastly expanded its domestic supplies.

An estimated $2 billion in projects are underway to expand the natural gas network to 46 small towns and 5.000 villages by the end of the current fiscal year.

Iraq. which overtook Iran as the second OPEC producer when Tehran was slapped with intensified sanctions. exported 3.93 million barrels a day in May.

Rosneft and U.S. energy firm Exxon earlier announced plans to build an LNG plant in Russia'.s far east together.

The four conventional LNG carriers will deliver LNG worldwide.

Iran imports an average of 10 million liters of gasoline every day to meet domestic demand.

KoGas currently has offtake contracts with a number of LNG producers that are mostly located in the Asia Pacific and the Middle East.

Lithuania aims to receive its cargo of US LNG at its terminal in Klaipeda port in the second half of August.

The gas pipeline will stretch over a distance of about 1.100 km and will pump a total of 31.5 billion cubic meters of natural gas annually.

Eni offered some concession and agreed to lower the price to 11.99% of crude oil rate compared to 12.29% quoted in the tender.