Industry officials announced March 22 that a US$ 100 Bn LNG deal between China's Sinopec and Iran will be delayed until at least mid-2006 due to price disagreements.
Despite the effect of high prices, the real dilemma facing the two parties is that Iran has no facilities capable of exporting LNG. The agreement's strategic importance lies in Sinopec's development of the Yadavaran field and the oil reserves held there.
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