Iran News ...


10/10/08

China in negotiations to get in Pars LNG project

TEHRAN, Oct. 10 (ISNA)-China National Petroleum Corporation (CNPC) is negotiating to get 25 percent of an Iranian giant LNG project.

The sides are discussing a plan which may reduce the French Total stake in Pars LNG project from 40 percent to 25.

An official in National Iranian Oil Company (NIOC) Nosratollah Seifi said "currently Total possesses a 40 percent holding of the LNG project but it will probably be reduced although Total will not get out of the project."

Iran previously intended to run Pars LNG project with 50 percent of NIOC, 40 percent of Total and 10 percent of Malaysia's Petronas.

If the 25 percent holding of CNPC is agreed upon, Petronas and NIOC stakes will respectively be decreased to 8 and 42 percent.

An Iranian delegation is in China to discuss the plan. Talks on the issue are expected to continue to April 2009.

... Payvand News - 10/10/08 ... --



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