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Total weighs up Iran LNG deal

French oil giant Total is reviewing Iran South Pars LNG project, president of Total exploration and production operations in the Middle East said on Wednesday.

Philippe Boisseau termed the deal “a momentous investment opportunity” requiring careful study. Speaking at a conference on renewable sources of energy in Abu Dhabi, he stated: “We are negotiating with Iranian officials. It takes time to come to terms with each other,” Moj News Agency reported. The official declined to reveal the value of Pars LNG deal. Pars LNG project was scheduled to come on stream in 2009 but has been deferred until 2011. Iranian officials have warned France’s Total and Royal Dutch Shell to be bound to their undertakings and tie up the loose ends of the South Pars project by June 2008. (Tehran Times)