Royal Dutch Shell Plc  .com Rotating Header Image

MarketWatch: Shell CEO says to decide on Iran's persian LNG invest in 2007

MarketWatch: Shell CEO says to decide on Iran's persian LNG invest in 2007


May 4, 2006



LONDON (MarketWatch) — Royal Dutch Shell PLC (RDSB.LN) is to decide in 2007 whether to invest in Iran's Persian LNG project, its chief executive said Thursday.


Speaking at a press conference, Jeroen van der Veer said “we are aware of the short-term developments,” referring to international tensions surrounding the country's nuclear program. But he added “we intend to make a decision in the year 2007.”


In 2004, the National Iranian Oil Co. (NIO.YY) signed a framework deal in 2004 with Shell and Repsol YPF SA (REP) to form the Persian LNG production company, linked to the development of phase 13 of South Pars and valued at $1.5 billion. But no final investment has been made so far.


Regarding Shell's plans in neighboring Iraq, van der Veer said the company would need a legal framework on petroleum in place in the country before investing. “We are more on less at a standstill,” he said.


A still-to-be-formed Iraqi government will be tasked to devise a petroleum law, which will regulate foreign investment in the sector.


Company Web site:

-Contact: 201-938-5400 

This website and sisters,,,, and, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.