NIGEC at a glance
Based on 2016 estimates, Iran is home to 157.8 billion barrels of proved crude oil reserves and 34 trillion cubic meters of proved natural gas reserves, ranking as the fourth-largest oil reserves holder and the largest gas reserves holder in the world. The vast amount of hydrocarbon reserves, along with its geopolitical and geo-strategic location in Southwest Asia, particularly in the Persian Gulf and Oman Sea, has made Iran a very important and influencing country in the world’s oil and gas industry.
The entitlement of Iran’s oil and gas reserves has been transferred by the government of Iran to the National Iranian Oil Company (NIOC) which, since 1951, has been directing and making the necessary policies for exploration, drilling, production, research and development, refining, distribution and export of oil, gas, and related derivatives.
In 2002, NIOC, aiming at establishing an active presence in the world’s gas trade, incorporated National Iranian Gas Export Company (NIGEC) as one of its subsidiaries and gave it full mandate to trade and export all Iran’s natural gas and related derivatives produced from both onshore and offshore gas fields.
In 2016, NIOC stated its top priority development projects to achieve the targeted goal of increasing oil and gas production. Based on the plans, production from natural gas fields will increase to more than 1 BCM per day by the next 3 years.
Based on its vision and mission statements set for an effective development and stability of Iran’s share in the global gas market, NIGEC has adopted its quality policy to ensure the realization of the company’s objectives as below:
· Development and application of appropriate infrastructure in order to meet customers’ expectations and raise their satisfaction.
· Revising the company’s processes to emerge more flexible in international ties.
· Performance improvement through hiring and empowering ly-qualified human resources and generating essential motivations
· Acquisition of state-of-the art know-how and technologies to enhance business performance at regional and global levels
The main activities of NIGEC are as below:
· Marketing and sale of Natural Gas (NG), Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG) and all related derivatives
· Concluding sale, purchase, transit, transport, swap, barter and all other contracts related to the trade of NG and LNG
· Supervision on good performance of contracts
· Participating and investing in construction of gas export pipelines, LNG plants and related facilities
· Participating and investing in other countries in areas related to natural gas trade
· Establishing commercial ties with buyers and investors regarding development of Gas/LNG market and trade
· Negotiating with international oil and gas companies in order to develop natural gas trade
· Commercial and technical negotiations regarding gas to wire projects
Ongoing Plans and Projects of NIGEC:
I. Pipeline related plans and projects:
· Barter of Iranian natural gas for Armenian electricity
· Swap of Azerbaijan natural gas to Nakhchivan
· Export of natural gas to Turkey
· Import of natural gas from Turkmenistan
· Export of natural gas to Iraq (Baghdad & Basra)
· Export of natural gas to Oman
· Export of natural gas to Georgia
· Export of natural gas to India
· Export of natural gas to Pakistan
II. LNG plans and projects:
· Iran LNG
· Floating LNG facilities -FLNG
III. Gas to Electricity - Gas to Wire
· Aiming at diversifying its export opportunities, NIGEC has defined plans for conversion of gas to electricity to be supplied to the neighboring countries through the private sector. NIGEC undertakes to provide the required feed gas to the power generation plants built by the private sector.
· NIGEC welcomes all investors, shareholders, financiers and all reliable and reputable companies wishing to participate and invest in NIGEC investment opportunities listed below:
o Pipelines projects
o “Iran LNG” project or new LNG projects
o Floating LNG facilities - FLNG
o Gas to electricity projects