Shell Remains In Iran

Shell says it has no plans to withdrawn from its natural gas activities in Iran. The comments are a denial of a report in the German daily "Die Welt" Tuesday that the company would sell its gas ventures in Iran because of U.S. political pressure. A Shell spokeswoman said the report was completely incorrect.

Shell signed a memorandum of understanding in January to undertake a feasibility study to build a liquefied natural gas plant at Iran's South Pars gas field in the south of the country. There is however, uncertainty as to whether Shell will take over the 20% stake which Enterprise Oil holds in phases 6, 7 and 8 in South Pars.

Akbar Torkan, chairman and president of Iran's energy contractor Petropars, which operates the three gas phases, said recently since Shell took over Enterprise it is unclear as to whether it would still want its 20% share in the projects.

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