Iran Monday gave a two-week ultimatum to Royal Dutch Shell PLC (RDSB.LN) and Repsol SA (REP) to sign a deal to enter the giant South Pars gas field as the Islamic Republic grows impatient about the majors' reluctance to commit.
Iran Monday gave a two-week ultimatum to Royal Dutch Shell PLC (RDSB.LN)
and Repsol SA (REP) to sign a deal to enter the giant South Pars gas field as
the Islamic Republic grows impatient about the majors' reluctance to commit.
The deadline comes after Iranian oil minister Masoud Mirkazemi threatened to
replace foreign firms with domestic ones for delaying the development of South
Pars.
"The oil ministry has issued an ultimatum to Shell and Repsol and they are
expected to make a decision about phases 13 and 14 of South Pars in two weeks
time," Reza Kasaeizadeh, managing director of the National Iranian Gas
Export Co. told the Mehr news agency.
Phases 13 and 14 of South Pars Gas field are earmarked to supply the Persian
LNG project, which will have a capacity of 16.2 million metric tons a year.
In 2008, Anglo-Dutch oil major Shell and
Spain
's
Repsol pulled out of talks to enter a previous development phase in the giant
gas field after coming under pressure from the U.S.
Kasaeizadeh and other Iranian officials couldn't be reached. Repsol declined to
comment while Shell was unavailable to comment.
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