Reuters: Gas to be produced from an Iranian field which Royal Dutch Shell Plc planned to develop before pulling out under U.S. pressure will likely be retained for domestic use, the oil major said on Tuesday.
LONDON, May 20 (Reuters) – Gas to be produced from an Iranian field which Royal Dutch Shell Plc planned to develop before pulling out under U.S. pressure will likely be retained for domestic use, the oil major said on Tuesday.
"It makes gas available which probably Iran may use for domestic use," Chief Executive Jeroen van der Veer told the Shell annual general meeting on Tuesday.
Shell had planned to develop multi-billion dollar facilities to freeze the gas into liquefied natural gas so that it could be transported on ships, helping Iran meet its goal of becoming a major gas exporter.
Shell is one of the few companies with experience of building such facilities and its withdrawal left industry players wondering whether Iran would be able to develop Phase 13 of the giant South Pars field into an LNG export project. (Reporting by Tom Bergin; editing by Sue Thomas)
