A funding dispute over a proposed 2.6 billion euro ($3.3 billion) liquefied natural gas (LNG) plant between Iran and a Chinese consortium has been postponed.
The Mehr news agency on Sunday reported the project has been put to the backburner "until further notice" because the Chinese group involved to make the project was unable to finance it.
Arrow Energy’s final investment decision on its Moranbah Gas liquefied natural gas (LNG) project in the northern Bowen Basin in eastern Australia will be out in late 2013, according to chief executive Andrew Faulkner.
No details as to whom or from where it got its information were provided.
The identities of the Chinese firms were not mentioned, although earlier media reports had identified the group as SINOC.
The semiofficial Mehr agency noted it had been more than three years after Iran LNG Co., an affiliate of the National Iranian Gas Export Co., and China signed an agreement in 2008 to build the LNG plant.
The plant, with an estimated annual production of around 10.5 million tonnes of LNG and other products such as gas condensate, was envisioned to be built in two phases over six years. Iran was supposed to export the first LNG consignment in 2013.
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