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Bloomberg: Shell to Consider Political Issues When Deciding Iran LNG Deal

By Ladane Nasseri and Fred Pals

Oct. 25 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company by market value, will take into account Iranian political issues when deciding whether to go ahead with a liquefied natural gas project in the Islamic Republic.

Shell will consider the “political dimension” in its investment decision, Chief Financial Officer Peter Voser said on a conference call today. The company is working on technical aspects of the project, he added.

Shell and its Madrid-based partner, Repsol YPF SA, have for several years discussed developing two blocks of Iran’s South Pars field, the world’s largest gas deposit, and building an LNG plant to export the fuel, a project dubbed Persian LNG. Repsol said in May it expected to make a decision early next year.

In July, Shell said an investment decision was at least a year away.

Iran, the site of the world’s second-largest oil and gas reserves, is pushing foreign companies to sign energy agreements quickly as its international isolation grows over its nuclear program. France’s Total SA has also delayed an LNG project in Iran.

To contact the reporters on this story: Ladane Nasseri in Tehran at [email protected] ; Fred Pals in London at [email protected]

Last Updated: October 25, 2007 06:31 EDT and its also non-profit sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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