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The Guardian: Shell and Repsol sign gas production deal with Iran

Monday 29 January 2007

Royal Dutch Shell and Spain’s gas and oil company Repsol have signed an initial agreement with Iran to assess the feasibility of producing liquified natural gas from the South Pars field, despite increasing pressure on western firms to refrain from investing in the country.

The deal is understood to be worth $10bn (£5bn), but a final decision on whether to develop the project is not due for a year.

Washington has barred US companies from investing in Iran because of accusations that Tehran is planning a nuclearbomb, and has called on other non-American firms to do the same.

Marianne Barriaux

http://business.guardian.co.uk/story/0,,2000777,00.html

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