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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


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FEATURED COLUMNS

Editorial comment
-Adrienne Blume
According to GIIGNL’s 2018 Annual Report, global LNG trade expanded by 3.5 Bft3d in 2018, to 38.2 Bft3d—a record 10% increase.
Power, LNG projects drive pipeline construction in Africa
-Shem Oirere
Increasing public investment in gas-fired power plants in Africa, the continuing recovery in global oil prices and persistent insecurity in key producer markets, such as Nigeria, are likely to impact gas transmission pipeline projects on the continent, even as more international companies express interest in the region’s stranded gas resources.


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