mardi, mai 24, 2005

Total may increase stake in Iran's Pars LNG project to 50 pct

PARIS (AFX) - Total SA may increase its stake in Irans Pars liquefied natural gas (LNG) project after Petroliam Nasional Bhd (Petronas) withdrew from the project, French daily La Tribune said.

'Petronas has sold its 20 pct stake and we intend, if no other partner emerges, to sell this stake to France's Total,' the head of the National Iranian Gas Export Company said in an Iranian press interview yesterday, according to the report.

If the deal goes ahead, Total would see its 30 pct stake in the Pars LNG production company -- set up last year to build a 2 bln usd liquefaction facility in Iran -- increased to 50 pct, La Tribune said.

This would put it on an equal footing with the National Iranian Oil company, which also owns 50 pct in the venture.

In response, a Total spokesperson said 'discussions are underway and are going well', the paper said.

The Paris LNG project includes development of block 11 in the South Pars field, by a consortium owned 60 pct by Total and 40 pct by Petronas.

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