Iran suspends major gas deal with China
Iran has temporarily cancelled a major gas deal with China due to the lack of financing by the Chinese side, Mehr news agency reported.
In March 2009, Iran LNG Company signed a liquefied natural gas (LNG) deal worth 2.6 billion euros with a Chinese consortium.
The deal was aimed to launch production lines in Iran LNG Company with an annual production of around 10.5 million tons.
But the Chinese side has not met its obligations for financing the project, the report said.
A source familiar with the issue told Mehr that the agreement can be put into effect once again if the Chinese consortium manages to secure the funding.
Iran will export the first LNG consignment in 2013, Deputy Oil
Minister Mohsen Khojastemehr said in June.
He told the ISNA news agency that LNG exports will amount to 10
million tons per year.
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