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Tuesday, 4 July 2017

Iran's Gas Wealth Lures Total to Take Dose of Political Risk - Bloomberg

Iran's Gas Wealth Lures Total to Take Dose of Political Risk - Bloomberg:

"Total SA made a $1 billion bet on natural gas in Iran, swallowing a hefty dose of political risk in the hope of gaining first-mover advantage in the country with the world’s largest reserves. The deal to develop phase 11 of the giant South Pars field is the first investment in Iran by an international energy company since sanctions were eased last year. Total expects it to open the way for further involvement in oil, gas and petrochemical projects there, said Chief Executive Officer Patrick Pouyanne. It also gives the French energy producer a high profile in a country that’s at the center of multiple geopolitical flash points, where many of its peers are still wary of treading."



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