Iran to supply gas to Cuba

[El Presidente]

Iran to supply gas to Cuba

http://www.cubastandard.com/2010/12/05/ira...ly-gas-to-cuba/

Iran will export liquefied natural gas to Cuba, Iran’s Mehr news agency reported, citing the managing director of Iran’s LNG Company.

Under a letter of intent recently signed with Venezuela, Iran will supply gas also to Argentina. Venezuela has long-term agreements to supply the two Latin American countries with natural gas beginning in 2013, according to Mehr.

Iran already produces considerable amounts of gas and has completed 40 percent of an LNG plant, while Venezuela is in the process of ramping up its gas production and planning to build a 5.4-million ton LNG plant, with Iranian help.

Cuvenpetrol, a joint venture of the Venezuelan and Cuban state oil companies, agreed this year to build a $400 million, 2-million ton regasification plant at the Port of Cienfuegos. A subsidiary of Chinese state oil company CNPC will build the complex.

Most of the gas will be used in Cuban power plants. Unión Nacional Eléctrica is currently converting at least three thermoelectric power plants to gas.

In the long-term Cuba plans to fuel the power plants with domestically produced natural gas. In the meantime, Cuba will source the fuel from Venezuela, and possibly Trinidad and Tobago, Nigeria, Equatorial Guinea, Algeria and Angola.