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No deadline for Shell Iran gas deal

IranMania.com: Iran: No deadline for Shell gas deal

LONDON, April 22 (IranMania) – Iran has not set a deadline for Royal Dutch/Shell to sign an agreement for developing the country’s giant South Pars gas field, PressTV reported.

“We have not set deadline for Shell (to announce) its Foreign Investment Decision (FID) pertaining to phases 13 and 14 of the South Pars (gas field) and works continue based on the timetable,” Oil Minister Gholam-Hossein Nozari told Fars News Agency Monday in Rome.

Iran is interested that the European energy major to undertake projects in phases 13 and 14 of the gas field based on the schedule, he stressed.

“There is a lot of work to respond to the challenging contracting market and to make sure that we have structured the design in the right way,” Malcolm Brinded, Shell’s head of exploration and production, said over the weekend.

According to The Guardian, Shell had earlier said that it would not decide until the end of this year due to the difficult investment environment, where construction costs and the falling dollar were causing havoc with planning.

“Negotiations with Total over FID of phase 11 of the South Pars gas field are underway and we are trying to reach agreement over the cost of project,” the Iranian minister said.

Total is mulling over developing Iran’s first liquefied natural gas (LNG) project, which would be fed by phase 11 of the South Pars gas field.

http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=59213

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