Iran General NewsRespol, Shell sign natural gas deal with Iran's NIOC

Respol, Shell sign natural gas deal with Iran’s NIOC

-

AFP: The Spanish oil group Repsol YPF and British-Dutch group Shell have signed a project framework agreement involving the Iranian oil company NIOC regarding liquefied natural gas in Iran, Repsol said on Thursday.
Spain’s El Pais newspaper reported earlier that Repsol and Shell had signed an agreement worth $3.96 billion dollars with Iran to exploit natural gas reserves. AFP

MADRID – The Spanish oil group Repsol YPF and British-Dutch group Shell have signed a project framework agreement involving the Iranian oil company NIOC regarding liquefied natural gas in Iran, Repsol said on Thursday.

Spain’s El Pais newspaper reported earlier that Repsol and Shell had signed an agreement worth $3.96 billion dollars with Iran to exploit natural gas reserves.

The National Iranian Oil Company (NIOC) was associated with the contract signed in Vienna last week, the report said.

A Repsol YPF spokesman said: “I can confirm that we and Shell have reached a project framework agreement with the NIOC to study an LNG project in Iran”, but added that he could not confirm the size of the likely investment in the project.

“The agreement has been signed, but before we can proceed to the next stage, this has to be approved by the Iranian authorities,” the Repsol YPF spokesman said.

El Pais said that about $4 billion would be required for the extraction and marketing of natural gas from Iran.

Latest news

Iran and Hezbollah Face Blame for Dual Financial Crises

The United States Treasury Department announced on Friday, January 21, that it would be enforcing sanctions on three Lebanese...

Iran – Conflicting State Policies Deepen Social Crises

The Iranian regime has decided to spend about $800 million to encourage more childbirths in 2022 in an attempt...

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...

Must read

Iranian missiles in Gaza fight give Tehran government a lift

New York Times: Above the bustling Niayesh highway in...

Iran Elections: US Sanctions Key Figures 

By Jubin Katiraie Brian Hook, the United States’ special envoy...

You might also likeRELATED
Recommended to you