Shell, Repsol aim to leave Iran gas project

MADRID (Reuters) – Royal Dutch Shell Plc and Spain’s Repsol are negotiating with the Iranian government to pull out of a $10 billion natural gas project due in part to U.S. pressure, Spanish newspaper Expansion reported on Saturday.

The companies want Iran to agree to drop their current development plans for block 14 of the South Pars field but to allow them to bid for other parts of the field in the future if the international political climate improves, Expansion said.


A Repsol spokeswoman declined to comment on the report, which said that Shell and Repsol were trying to help Iran find new partners for the project and that possibilities included Russia’s Gazprom, Indian Oil Corp and Chinese companies.

Reuters