Iran & Total agree on gas project
Azerbaijan, Baku, Oct. 12. / Trend /
The French company Total has returned to work in the oil and gas industry in Iran, Rza Kasaizade, Director General of the Iran National Gas Company said, official news site of the Iranian TV channel reported.
Total will be a partner of the Chinese company [CNPC] in development of the 11th phase of the South Pars gas project. Later, the French company will be given opportunities to develop a separate phase [the project], Kesaizade said.
Kesaizade said the total value of the contract previously signed with Total on the participation in the South Pars project was $12 billion.
"[But] given the fact that the average global cost of tons of LNG is $750, the cost of a new contract [with Total] will be $8 billion," Kesaizade said.