Arab Today, arab today iran warns of cancelling 5bn china gas deal
Last Updated : GMT 20:05:09
Arab Today, arab today
Arab Today, arab today

Iran warns of cancelling $5bn China gas deal

Arab Today, arab today

Arab Today, arab today Iran warns of cancelling $5bn China gas deal

Tehran - AFP

Iran has warned China it could cancel a much-delayed $5-billion offshore gas exploration contract in the Gulf, a news agency said on Monday. \"There is a possibility of cancelling the contract\" signed in 2009 to develop the South Pars gas field -- which holds around eight percent of the world\'s gas reserves -- Mehr news quoted oil ministry spokesman Alireza Nikzad as saying. China has for years aimed to strengthen its economic relationship with sanctions-hit Iran, by filling the investment void left by departing Western companies. But Iran has accused China of failing to fulfil its commitment and delaying its contractual obligations. South Pars, a huge offshore natural gas field shared between Iran and Qatar, holds around 14 trillion cubic metres of gas, and Iran plans to use the \"phase 11\" project to fill its first-ever liquefied natural gas plant. Mehr named China National Petroleum Corporation (CNPC), the Asian giant\'s largest oil and gas producer and supplier, as the company contracted for the project. Iran suspended a $16-billion contract with China last year for the North Pars gas field, saying the decision to let the Chinese develop North Pars rested on their effectiveness in developing South Pars. Nikzad said that should the South Pars contract be cancelled, the development of the offshore gas field would be handed over to Iranian contractors. \"The Chinese side has stated it is not inclined to be part of the project\'s development,\" citing the \"high risk\" involved in offshore exploration, Nikzad added. He said that a deal for another gas field would instead be discussed \"in the near future,\" without giving any details. Major Western companies that had been operating in South Pars, among them France\'s Total and Anglo-Dutch giant Shell, withdrew from Iran between 2007 and 2010 after international sanctions were imposed over Tehran\'s controversial nuclear programme. Iran, which has the world\'s second-largest natural gas reserves after Russia, claims it is able to develop South Pars on its own by giving many of the projects to companies affiliated to its elite Revolutionary Guards.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran warns of cancelling 5bn china gas deal Arab Today, arab today iran warns of cancelling 5bn china gas deal

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday