Total out from a gas project in Iran due to US sanctions

Total выходит из газового проекта в Иране из-за санкций США

Total intends to withdraw from the Iranian South Pars project

The company due to sanctions will not be able to continue to participate in the project South Pars. Phase 11 and will be forced to cease all operations until 4 November 2018.

French oil company Total intends to withdraw from the Iranian South Pars project because of US sanctions. On Wednesday, may 16, the press service of the company.

In particular, the statement noted that in regard to sanctions, the company “will not be able to continue to participate in the project South Pars. Phase 11 and will be forced to cease all operations that are associated with it, to 4 November 2018”.

As you know, South Pars is the world’s largest gas field. Its reserves are estimated at 13.8 trillion cubic meters. Iran since the end of last century, is a phased development of this field by dividing the entire area into 28 phases.

We will remind, the President of the United States Donald trump on may 8 announced the release of Washington from a Joint comprehensive plan of action – transactions, which limited the nuclear program of Tehran in exchange for lifting the relevant sanctions of the UN Security Council and unilateral restrictions at the time, the US and the EU.

While trump has promised not only to restore the old, but also to introduce new restrictive measures.

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