French companies keen on investing in Iran’s gas projects
By Sara Rajabova
The leaders of the leading French companies, including Total, Technip, Schneider, and Vinci Energy have expressed willingness to invest in Iran’s gas projects.
Managing directors of the fifteen companies, affiliated with the Mouvement des Entreprises de France (MEDEF), or the Movement of the Enterprises of France, met with the managing director of the National Iranian Gas Company at the 26th World Gas Conference (WGC), which was held in Paris, Iran’s Shana news agency reported.
Hamid Reza Araqi, NIGC managing director said the companies were members of the Movement of the Enterprises of France, which is the largest employer federation in France.
MEDEF is the main private-funded union of employers in France, which was established in 1998. It is a non-profit private-funded organization, with 20,000 employees throughout the world gathering more than 4,000 French companies already operating in the world.
Araqi said during the conference, NIGC presented 18 projects, such as the 9th and 11th cross country gas pipelines, the extension of the 7th pipeline, and gas storage facilities, to foreign investors.
Iran, which sits on the world’s largest gas reserves, intends to enhance gas production by increasing foreign and domestic investment, especially in its South Pars gas field.
South Pars gas field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters.
Iranian officials say the country is keen to supply natural gas to Europe. European countries and Iran’s neighbors are willing to buy gas from Iran as more gas projects are coming online.
In meantime, foreign oil and gas companies are waiting for the easing of sanctions on Iran under a long-awaited nuclear deal between Tehran and six world powers.
Iran would see its gas production reach one billion cubic meters a day (bcm/d) in three years as new phases of the gigantic offshore South Pars gas field are coming on stream.
Iran's current raw gas production level hits reportedly about 660 mcm/d. The country has developed 10 phases of the giant South Pars gas field, which share about 8 percent of total conventional global gas reserves, while phases 12, 15 and 16 are commenced with half capacity.
South Pars was divided to 29 phases and the country is to increase gas production level to 720mcm/d by the end of 2018 from South Pars.
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Sara Rajabova is AzerNews’ staff journalist, follow her on
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