French oil major Total is committed to the development of an Iranian gas field and will apply for a waiver if US President Donald Trump unilaterally withdraws from the 2015 Iran nuclear deal and reimposes sanctions on Tehran, the company’s chief executive said.
In a major interview given to French newspaper Le Monde looking at Total’s strong performance in 2017, CEO Patrick Pouyanné was asked about the “American threat” to the company’s “important gas project” in Iran.
Speculations are rising that China’s leading oil and gas company CNPC could replace French energy giant Total in a key Iranian natural gas project if any new US sanctions against investments in Iran’s economic projects forces it to leave the country.
French energy company Total plans to continue developing a huge Iranian gas field despite mounting concerns that US President Donald Trump may pave the way to re-impose sanctions on Tehran by tearing up the Iran nuclear deal.
A meeting between representatives of Total Company and the Iranian manufacturers of oil industrial parts and equipment will be held on Wednesday, said the head of Society of Iranian Petroleum Industries Equipment Manufacturers.