Iranian Oil Minister Bijan Namdar Zanganeh has said that development works for a major section of the South Pars gas field keep flowing by Iran’s Petropars after France’s Total and China’s CNPC withdrew from the project.
Supplying natural gas to Europe via a pipeline from Turkey is on the National Iranian Gas Company’s agenda, the CEO said.
After one year of the imposition of oil sanctions, Iran’s economy now enjoys a stable status. Iran expects friend countries to act more actively in buying Iranian oil, Iran’s Vice President Jahangiri said.
AFP is reporting that a dinar-based account in Trade Bank of Iraq is supposed to be used to pay for Iranian energy in return for Tehran’s humanitarian purchases.
According to reports, Washington has given Baghdad a 90-day sanctions waivers to keep buying Iranian gas and electricity to meet summertime peaks of demand.
The Iraqi envoy to Iran says although there are substitutes for Iranian energy, Baghdad maintains committed to imports from Iran and that is lookig for alternative ways of doing so.
The Asian country imported more than 290,000 barrels per day from Iran in March after the country restarted crude purchases from Tehran before the waivers ended on 2 May.
The joint bank will be used to handle the Iranian export of gas to Turkey as well as import of other commodities to the country.
Seoul is in constant talks with Washington to convince that it needs to keep buying Iranian gas condensates or it will face huge costs in modifying its refinery installations.
The four new phases at the Iranian side of the largest world gas reserve will hugely increase Iran’s gas production, exceeding that of Qatar.