The LNG dark horse might finally be here

摘要

Everybody likes to consider him or herself a 'dark horse', the little-known person that will make it big in the future to everyone's astonishment. And the same is valid for the LNG market. Many countries have been considered dark horses in the LNG world, but never actually made it. I myself claimed in the past Iran was a dark horse, with the second-largest natural gas reserves in the world, a strategic location between the Far East and Europe and a strong domestic demand for petrochemicals and natural gas. This, however, never materialised due to the US and European embargo that blocked existing projects in the country. In the early 2000s, Iran was very close to finishing its large LNG export project in Assaluyeh, that would take gas from its massive South Pars Field to Asia and Europe. The port was almost ready, the project needed a few more months and the support of several external partners that were fully committed. But it all stopped with the US and European embargo and the Assaluyeh export facilities started to languish.