27 Nov 2024
Tuesday 4 July 2017 - 17:10
Story Code : 262666

Total CEO confirms inking gas deal with Iran by summer

FNA- CEO of the French energy giant Total Patrick Pouyann underlined that his company is planning to conclude a gas deal with Iran's South Pars zone.

"The signing of the US sanctions waivers, among other hurdles, cleared the path for the deal to be signed," Pouyann told reporters on Saturday.

Pouyann also said that he has had a constructive meeting with Iranian Oil Minister Bijan Zangeneh in Vienna on Friday.

Total signed a preliminary agreement with Iran last year to develop Phase 11 of the countrys giant South Pars gas field. The French major company would lead a consortium that comprises Chinas CNPC and Irans Petropars over the project.

Pouyann told reporters in February that his companys final investment decision on Phase 11 would depend on whether US President Donald Trump waives executive orders against investments in the Iranian energy sector.

Pouyann declared that his company is trying to develop its own mechanism for transactions with Iran.

"Total is trying to develop its own channels to carry out banking affairs concerning Iran without falling afoul of US primary sanctions that still restrict doing financial activities with Tehran," Pouyann said.

He reiterated that his company was trying to find European lenders willing to be a day-to-day banker in Iran to press ahead with its investment plans in Iran.

"We have identified some, I would say, medium-sized banks that are ready to work with Iran, Pouyann added.
https://theiranproject.com/vdch-ini-23n--d.01t2.html
Your Name
Your Email Address