Iran General NewsIran says Shell, Repsol offer new gas proposal

Iran says Shell, Repsol offer new gas proposal

-

ImageReuters: Royal Dutch Shell and Repsol have offered a new proposal for initial production of Iran's major gas project in the Gulf, Oil Minister Gholamhossein Nozari said on Tuesday, the semi-official Mehr news agency reported.

ImageTEHRAN, June 9 (Reuters) – Royal Dutch Shell and Repsol have offered a new proposal for initial production of Iran's major gas project in the Gulf, Oil Minister Gholamhossein Nozari said on Tuesday, the semi-official Mehr news agency reported.

"Shell and Repsol have offered a new proposal for initial production of Phase 13 and 14 of South Pars gas field," Nozari said.

Iran said in April it had given Anglo/Dutch Shell and Spain's Repsol until May 20 to clarify their involvement in the project.

The Persian LNG project concerns development of production and exports of liquefied natural gas from a part of the South Pars field in the Gulf. Repsol, Shell and state-run National Iranian Oil Company (NIOC) signed an initial deal in 2002 to develop Phase 13 of South Pars.

Last year, Shell delayed decisions on multi-billion dollar investments in Iranian LNG plans due to political tension. Repsol has large investments in Iran, which is also the world's fourth-largest oil producer.

Repsol and Shell signed a service contract for the Persian LNG project in January 2007, setting out the conditions for exploration and development operations in Phases 13 and 14 of South Pars.

It said production from those phases would feed a future LNG plant that would have two liquefaction trains, each with capacity for 8.1 million tonnes/year, but that a final investment decision had yet to be taken.

Iran sits atop the world's second largest gas reserves after Russia, but sanctions imposed on the country over its disputed nuclear programme has slowed development of exports.

LNG is gas cooled to liquid under pressure for transportation in special tankers.

Latest news

NCRI Hosts Conference in France To Address the Need To Hold the Iranian Regime Accountable for Its Crimes

On January 17, the National Council of Resistance of Iran (NCRI) hosted a conference in Auvers-sur-Oise, north of Paris,...

Iran’s Regime Tries To Whitewash Its Crimes

Iran’s State Prisons and Security and Corrective Measures Organization, which is under the supervision of the Judiciary, has distributed...

Iran: Raisi’s Six-Month Economic Record Contrasts Sharply With His 7,000-Page Program

In the summer of 2021, the Iran regime’s supreme leader Ali Khamenei installed the infamous Judiciary Chief Ebrahim Raisi...

Iran’s Export in the Casino of the State Mafia

The Chairman of the Tehran Chamber of Commerce, Mohammad Khansari, has stated that the total volume of exports of...

Will Iraq Get Ever Free of Iran’s Sway?

After many years and massive popular protests, there are indications that Iraq’s body politic has decided to separate its...

Tehran Downplays Real Statistics of Car Accident Fatalities

The number of road accidents and fatalities in Iran has significantly increased during recent weeks. However, this is not...

Must read

Shiite alliance agrees on nominee for PM

AP: The Shiite alliance nominated a tough-talking Shiite politician,...

Iranian shelling kills Kurdish child on Iraq border: mayor

AFP: Iranian shelling of Kurdish border villages in northern...

You might also likeRELATED
Recommended to you