Gaz de France eyes South Pars interest

June 14, 2006
Gaz de France is prepared to invest as much as $300 million for interests in the South Pars gas production and LNG project in Iran, a GDF executive indicated at the World Gas Conference in Amsterdam.

Doris Leblond
OGJ Correspondent

PARIS, June 14 -- Gaz de France is prepared to invest as much as $300 million for interests in the South Pars gas production and LNG project in Iran, a GDF executive indicated at the World Gas Conference in Amsterdam.

GDF would like an 8-10% share in offshore South Pars Block 11, in which Total SA has 80% and Malaysia's Petronas 20%. GDF would farm into Total's share.

GDF also would take a 4-5% share out of Total's interest in the planned liquefaction plant, in which National Iranian Oil Co. has 50%, Total 40%, and Petronas 10%.

Negotiations with all partners are at the due diligence stage, GDF Vice-Pres., Exploration & Production, Michel Bayle told OGJ. He said Block 11 would need to supply 20 billion cu m/year of gas to the facility, progress on which awaits appointment of a new Iranian energy minister.