Total chief says would have to review Iran gas deal if new sanctions arose
PARIS (Reuters) — French oil and gas major Total would have to review its Iran gas project if the United States decided to impose unilateral sanctions on Tehran, given its interests in the US market, its chief executive told CNN.
"Either we can do the deal legally if there is a legal framework," Patrick Pouyanne said in remarks made to CNNMoney Emerging Markets late on Monday. "If we cannot do that for legal reasons, because of change of regime of sanctions, then we have to revisit it."
Pouyanne's office confirmed the interview had taken place.
"If there is a sanctions regime [on Iran], we have to look at it carefully," Pouyanne also said.
"We work in the US, we have assets in the US, we just acquired more assets in the US," he added.
Reporting by Bate Felix in Paris and Parisa Hafezi in Ankara; Writing by John Irish; Editing by Sudip Kar-Gupta
The ongoing development of shale gas resources in the US has spurred infrastructure construction for both natural gas processing capacity and LNG export terminals.
Russian natural gas monopoly Gazprom is strengthening its presence in the gas market of the Middle East through the planned construction of an 11-metric-MMtpy–12-metric-MMtpy LNG plant in Iran.
The New LNG Imperative
The shale gas boom established the US as the world’s leading natural gas producer and is responsible for billions of dollars of investments in the US gas processing industry. Since 2012, the US has witnessed unprecedented growth in new gas processing capacity and infrastructure. This rise is due to greater production of domestic shale gas, which is providing cheap, available feedstock to fuel the domestic gas processing, LNG and petrochemical industries. New gas processing projects include the construction of billions of cubic feet per day of new cryogenic and gas processing capacity, NGL fractionators, multi-billion-dollar pipeline infrastructure projects, and the development of millions of tons per year of new LNG export terminal construction. Attend this webcast to hear from Lee Nichols, Editor/Associate Publisher, Hydrocarbon Processing, Scott Allgood, Director-Data Services, Energy Web Atlas and Peregrine Bush, Senior Cartographic Editor, Petroleum Economist as they discuss the future of LNG and the application of Energy Web Atlas, a web-based GIS platform which allows users to track real-time information for every LNG project.
November 29, 2017 10am CST