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Wednesday, July 5, 2017

French energy giant Total signs major Iran gas deal, defies US pressure Monday July 03,2017

French energy giant Total defied US pressure on Monday July 03,2017  by signing a multi-billion-dollar gas deal with Iran, the first by a European firm in more than a decade.

Total will invest an initial $1 billion (880 million euros) in the South Pars offshore gas field as part of a consortium with Chinese and Iranian firms.
The 20-year project, which will eventually see the firms inject $4.9 billion, is by far the biggest vote of confidence in the Islamic republic since sanctions were lifted under a 2015 nuclear deal with world powers.

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