Nu nie po drodze malemu bully - Money talks
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China to help Iran produce natural gas
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Doron Peskin - 06.11.09
Chinese National Petroleum Corporation to develop 11th stage of
world's largest marine gas field in Iran for $4.7 billion. France
committed to project five years ago, but is delaying alliance
China and Iran last week signed an agreement worth close to $5
billion for the 11th stage of developing the South Pars field,
considered the world's largest natural gas field.
The deal was between Seifollah Jashnsaz, managing director of the
state National Iranian Oil Company (NIOC), and the Chinese National
Petroleum Corporation during the Iranian official's recent visit to
China
In 2004, French energy giant Total signed an agreement with the
Iranian government, making it responsible for developing the
project's 11th stage. However, the project's implementation has been
delayed since then several times, due to what has been defined by
the French as "a price hike in the development costs." In practice,
however, the delay stems from the international pressure on Iran due
to its nuclear aspirations.
Jashnsaz said after signing the contract, "We cannot wait for the
Total company and therefore we signed a $4.7 million deal with the
Chinese." However, the Iranian official left the door open for Total
to be a partner in developing the field in the future.
It should be noted that the South Pars field is located both on
Iranian and on Qatari territory, and is considered the single
largest natural gas field in the world. The field's reserves are
estimated at around 14 trillion cubic meters – about 8% of the
proven gas reserves in the world. The planned production for stage
11 stands at 2 billion square feet a day.
