Iran General NewsRespol, Shell sign natural gas deal with Iran's NIOC

Respol, Shell sign natural gas deal with Iran’s NIOC

-

AFP: The Spanish oil group Repsol YPF and British-Dutch group Shell have signed a project framework agreement involving the Iranian oil company NIOC regarding liquefied natural gas in Iran, Repsol said on Thursday.
Spain’s El Pais newspaper reported earlier that Repsol and Shell had signed an agreement worth $3.96 billion dollars with Iran to exploit natural gas reserves. AFP

MADRID – The Spanish oil group Repsol YPF and British-Dutch group Shell have signed a project framework agreement involving the Iranian oil company NIOC regarding liquefied natural gas in Iran, Repsol said on Thursday.

Spain’s El Pais newspaper reported earlier that Repsol and Shell had signed an agreement worth $3.96 billion dollars with Iran to exploit natural gas reserves.

The National Iranian Oil Company (NIOC) was associated with the contract signed in Vienna last week, the report said.

A Repsol YPF spokesman said: “I can confirm that we and Shell have reached a project framework agreement with the NIOC to study an LNG project in Iran”, but added that he could not confirm the size of the likely investment in the project.

“The agreement has been signed, but before we can proceed to the next stage, this has to be approved by the Iranian authorities,” the Repsol YPF spokesman said.

El Pais said that about $4 billion would be required for the extraction and marketing of natural gas from Iran.

Latest news

Iran’s New Generation Seeks Nothing but Regime Change

In a silly and desperate statement, the Iranian regime’s foreign minister Hossein Amir-Abdollahian claimed that nothing special is going...

Iran’s Youths Broke the Spell of Fear

One of the main characteristics of the recent protests in Iran is the courage and fearlessness of the people,...

Iran Is on the Brink of a Revolution

The wall of fear has been broken. In many cities across Iran, women are taking to the streets, leading...

Iran’s Regime Claims To Fill Global Energy Gap Despite Crippled Petroleum Sector

In recent weeks, the Iranian regime’s officials have been constantly exaggerating their huge capacity in oil and gas reserves...

What Is Happening in Iran?

Following the brutal killing of Masha Amini, the Iranian people have once again united to fight and defeat the...

Iran Regime’s Ministry of Culture’s Decision To Eliminate Children’s Intellectual Centers

With the so-called ‘Cultural Revolution’ which took place between 1980 and 1983, the Iranian regime tried to purge the...

Must read

U.S., Iran running low on options over nuclear program

NPR: With time running out on efforts to monitor...

Escorted by the US Navy, British sailors return to the Gulf

The Independent: Seven months after the Royal Navy suffered...

You might also likeRELATED
Recommended to you