Iran and South Korea sign natural gas deal
Oct 14, 2009 02:00 AM
Iran and a South Korean company have signed a cooperation agreement worth more than $ 1.8 bn to refine natural
gas.
The report says the state-owned Pars Gas and Oil Company and South Korea's GS company signed the deal.
Pars Gas and Oil director Ali Vakili says they wanted the Iranians to have a majority share. The project, scheduled
for completion in four years, will refine natural gas for Iran's domestic consumption.
Iran has the world's second biggest natural gas reserves. But the country routinely struggles with shortages during
winter as it lacks capture and distribution facilities.
