Released on = May 2, 2007, 4:08 am

Press Release Author = Shushmul Maheshwari

Industry = Energy

Press Release Summary = Europe eyes Iran to ensure that it has adequate supplies of
LNG, so that the region can meet its growing energy needs in future.

Press Release Body = Europe must secure LNG (Liquefied Natural Gas) supplies from
Iran, if it wants to corroborate its energy security in future. However, political
tensions hovering between Iran and rest of the world are making it almost
impracticable.

\"There are a lot of other producers (in the Middle East), but all are more or less
covered by projects already agreed upon,\" said Dieter Pfaff, senior VP for Gas
Supply Policy Division of E.ON Ruhrgas - German gas supplier. E.ON Ruhrgas is a unit
of E.ON AG. MarketWatch published Pfaff’s statement on March 15, 2007.

Iran enjoys 15% of proven recoverable gas reserves in the world - 2nd largest in the
world, next only to Russia. However, the country still has not developed an LNG
industry, hence a potential key supplier for LNG companies.

\"There is a tight supply market for those who want to get LNG supply for 2010
onwards,\" said Pfaff. There’re merely three suppliers, namely Algeria, Russia,
and Norway, near to Europe that can produce additional volumes. This implies that
Europe ought to rely on other nations for securing supplies of LNG to meet its
energy demand. Therefore, a largely unexploited supplier such as Iran is
indispensable for the region.

Pfaff further added, ensuring stable rapport between the producers of LNG and
countries that rely on its import is of utmost importance - laying the foundation of
this long-term contract. \"Long-term contracts are a key element for making
investment possible,\" and will remain the backbone of energy security for Europe.

According to RNCOS report “European LNG Market Analysis”, “With
restricted reserves of gas except Russia, LNG imports have become imperative to
maintain gas supplies in the \\\\Server3\\D\\Staff\\Anoy\\PR\\Ready For Sir\\Europe looks
towards Iran to Secure LNG Supplies in the Region-comments.doc European region.
Spain remained the largest importer of liquefied natural gas in 2005, followed by
France. It’s expected that the demand for LNG in Europe will touch a mark of
79-98 Million Tons by 2020.”

This research report on “European LNG Market Analysis” helps clients in
analyzing the opportunities critical to the growth of the LNG Industry in Europe.
Key issues and facts analyzed in this report include: opportunity areas for the
players in LNG industry and challenges they will face in future to survive in the
European LNG industry, factors leading to success in European LNG Industry, LNG
Infrastructure developments in European LNG industry, etc.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM0304.htm
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Contact Details = RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
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info@rncos.com