Baku, Azerbaijan, March 4
By Fatih Karimov – Trend:
Iran understands concerns of France’s Total regarding getting involved in Iran's oil and gas projects, Amir Hossein Zamaninia, the Islamic Republic’s deputy oil minister for international affairs and trading, said.
Total has announced that it is waiting for a final decision from the US regarding the sanctions against Iran, Zamaninia said, Tasnim news agency reported March 4.
The French giant has suspended making a decision on investment in Iran’s gas sector due to concerns over President Donald Trump’s approach towards sanctions on the Middle Eastern country.
The Total CEO Patrick Pouyanne said last month that the company plans to make a final investment decision on a $2 billion gas project in Iran by summer, but the decision hinges on the renewal of US sanctions waivers.
Zamaninia said that Iran is not upset with the Total decision, adding that the French company is interested to make $5 billion investment in Iran’s oil and gas sector.
The company has spent over $20 million over the last 1.5 months and their proposals for the projects are ready, he added.
Iranian Oil Minister Bijan Namdar Zanganeh has said that the country’s Foreign Ministry will be in charge of diplomatic aspects of talks on Total’s plans to enter the Islamic Republic’s oil market.
According to Zanganeh, the French company was expected to take actions in line with the policies of the EU, not the US.