China's CNPC replaces Total in Iranian South Pars Gas project
by ChemOrbis Editorial Team - content@chemorbis.com
According to Iran’s local media sources, China’s state-owned CNPC has taken over phase 11 of the South Pars gas project in Asaluyeh, Iran. The phase was previously controlled by French oil and gas major Total SA.
In May, the French company announced that it would not be in a position to continue with the project and would unwind all related operations unless it was granted a waiver by the US authorities. The company then officially left the project in August after failing to obtain a waiver for the US sanctions on Iran.
CNPC, which already holds a 30% stake in the project, has reportedly not commenced operations at the multibillion-dollar project.
In May, the French company announced that it would not be in a position to continue with the project and would unwind all related operations unless it was granted a waiver by the US authorities. The company then officially left the project in August after failing to obtain a waiver for the US sanctions on Iran.
CNPC, which already holds a 30% stake in the project, has reportedly not commenced operations at the multibillion-dollar project.
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