Petronas Could Pull Out of the South Pars Phase 11 Project,Whereas Total Has Confirmed its Commitment

摘要

The Malaysian national oil company Petronas,which is very active in Iran,recently intimated that it was really not happy about the contractual terms proposed by Iran for phase 11 of the development of the South Pars gas field.Phase 11 is to be associated with a downstream liquefied natural gas(LNG)export project,Pars LNG,for which Petronas(20%)and Total(30%)are negotiating with the National Iranian Oil Company(NIOC).Petronas explained that it might pull out of the South Pars phase 11 project if the commercial terms did not correspond to its investment criteria,and a decision on that is due to be taken shortly.