Iran proposes German companies to invest in South Pars gas field
Baku, Azerbaijan, Apr. 27
By Fatih Karimov - Trend: Iran has proposed German companies invest in the development of the South Pars gas field.
Mojtaba Khosrotaj, the Iranian deputy industry, mining, and trade minister, met with a delegation of German industrialists and investors in Tehran, proposing they provide equipment for the South Pars gas field development plan, Iran's Mehr news agency reported on April 27.
German companies used to participate in the development of the South Pars gas field before the imposition of sanctions against Iran's oil and gas industry, Khosrotaj said.
Through participating in the development of the gas field, Iranian gas can be transferred to Europe via Germany, he added.
The South Pars field has 14 trillion cubic meters of natural gas -or about eight percent of the world's reserves- and more than 18 billion barrels of liquefied natural gas resources.
The field is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.
If the sanctions are lifted, Iran will be able to freely sell its gas to the European markets. Therefore, the Islamic Republic is seeking more acceptable routes for bringing its gas to them.
Edited by CN
