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  • » 07/10/2008, 00.00


    Total says Iran investment “too risky”

    The President of the French Energy giant announces “plans to extract gas in the south of the country have been dropped”. The decision comes one day after Tehran’s missile launch testing weapons capable of hitting Israel and US military bases in the Gulf.

    Teheran (AsiaNews) –It’s “too risky” to invest in Iran according to Christophe de Margerie, president of French Energy giant Total announcing that “all plans to extract fuel in the south of the country have been dropped”.

    In 2006 Total signed a deal with the Teheran government to exploit the phase 11 of Iran's giant South Pars gas field to produce liquefied natural gas for export and to build a liquefaction plant.

    The announcement comes a day after Iran’s Revolutionary Guards (Pasdaran), test-fired 9 long and short range missiles, capable of hitting strategic US bases in the region and the nation’s sworn enemy, Israel.  State TV broadcast the launch, which took place in a desert zone: among the missiles tested there was the Shahab 3, which has a range of over 2 thousand km.

    Analysts believe that Total’s decision is a “serious blow” to the Iranian energy department: “Today we would be taking too much political risk to invest in Iran because people will say: 'Total will do anything for money” Christophe de Margerie told the Financial Times.

    Iran has been the centre of attention for international politics for months now: its’ controversial nuclear programme and the recent missile tests have provoked strong reactions from both the US and Israel, who so far have not ruled out the option of a military attack, should Iran fail to abandon its war mongering.

    Total is familiar with investment issues linked to international problems.  Last year, following the Burmese junta’s violent repression of peaceful protests led by Buddhist monks, the petrol company withdrew from its commitments in Myanmar.


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    See also

    04/07/2017 17:16:00 IRAN – FRANCE
    Total inks multi-billion deal with Iran in spite of US sanctions

    Total is the first company to sign such an important agreement with Iran in more than ten years. The estimated investment is US$ 4.8 billion. The US hostile position slows down the normalisation of Iran’s economic relations, but Europe looks forward to future agreements. For Zarif, Iran remains committed to the nuclear deal “despite reckless US hostility".

    27/06/2007 IRAN
    Gas rationed, Iranians’ anger explodes
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    27/02/2008 CHINA - IRAN - RUSSIA
    Iran sells gas to China breaking the West’s embargo
    China’s Cnooc will exploit the rich gas reserves in northern Pars. US efforts to isolate Tehran allow China and Russia finalise lucrative deals without any competition. Moscow aims to integrate Tehran’s energy “grill” with its own, to become the sole supplier to all of central Asia.

    19/04/2006 IRAN
    US not excluding military solution to Iran nuclear crisis

    Nothing came out of yesterday's meeting of the permanent members of the UN Security Council about Iran's nuclear ambitions. But Ahmadinejad says he's ready to fight it out on the military front too.

    13/04/2006 IRAN
    Diplomatic flurry to cool off Iranian nuclear standoff
    El-Baradei is in Tehran. Chinese official is due in Russia and Iran. The United States, Russia, China, Britain, France and Germany will meet on April 18 in Moscow. According to Stratfor, the Iranians just want to see their interests in Iraq respected.

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