rss icon Subscribe
desktop mobile

Total Seeking to Buy Stake in Iranian LNG Project

Photo: Total

By Aiswarya Lakshmi

French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported.

It has signed an agreement with Iranian authorities for a 50 per cent stake in Iran's South Pars gas field project which will developed at an investment of $4 billion.
Sources told Reuters in February that Total was in talks to buy a multi-billion dollar stake in Iran's partly-built LNG export facility.
Total signed a preliminary deal for the South Pars project last year, becoming the first Western oil major to sign an energy agreement after the European Union and the United States eased sanctions against Iran.
In a filing to the US Securities and Exchange Commission, Total said the South Pars 11 project would require investment of about $4 billion, with the French firm financing 50.1 percent with equity contributions and payments in non-US currency.
Total said in its filing that it discussed other projects with Iranian officials in 2016 and carried out technical reviews, including for investment in a 10 million ton-per-year liquefied natural gas (LNG) plant at Tombak on the Persian Gulf coast.
In February, sources said Total was in talks to buy a stake in the partly-built LNG plant at the port.
The French firm also said in its filing that it discussed plans to invest in the South Azadegan oil field.
Total said it resumed trading with Iran in February 2016, and bought about 50 million barrels of crude for about $1.9 billion last year, most of it to supply its refineries.

Mar 18, 2017

 

Finance

PAO Sovcomflot: Tanker Market is Challenging

Photo: PAO Sovcomflot

PAO Sovcomflot (SCF Group) continued to increase the share of its fleet serving long-term energy

Federal Funding for Port of Vancouver

Photo: Vancouver Fraser Port Authority

The Vancouver Fraser Port Authority received federal funding for projects that will improve the

NYK Line's Green Bonds Terms and Conditions Determined

Image: NYK Line

Japan's Nippon Yusen Kaisha (NYK), the world's first shipping company to issue a labelled green

LNG

Eniram Signs On LNG Powered Bulk Carrier Project

(Image: Arista Shipping)

The Project Forward initiative, which is led by Athens-based Arista Shipping, has produced an

Norway Expects Gas Export Prices to Slip in 2019

© Carabay / Adobe Stock

Prices of Norwegian gas exports are likely to rise slightly this year amid strong demand

Gunvor to Lease Exmar FSRU

Photo: Exmar

Gunvor will lease the floating storage and regasification unit (FSRU) for ten years from the

Maritime Apps