By John Lee.
French oil major Total is reported to be in talks to buy a multi-billion-dollar stake in Iran’s partly-built liquefied natural gas (LNG) export facility, Iran LNG.
According to Reuters, the company is aiming to buy into the project at a discount to the pre-sanctions price in exchange for reviving the project, which stalled in 2012 when sanctions prevented the purchase of specialist liquefaction technology from German company Linde.
In November, the Total signed a Heads of Agreement (HoA) with the National Iranian Oil Company (NIOC) for the development of the giant South Pars gas field, which could be used to supply Iran LNG.
(Picture: Tasnim, under Creative Commons licence)