Oct 19 2009 |
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Iran suspends gas talks with OMV
19 October 2009TEHRAN - Iran has started talks with foreign investors to participate in the development of phase 12 of the South Pars gas field after Austrian OMV decided to walk away from the project on financial grounds.
In April 2007, OMV signed a memorandum of understanding with the National Iranian Oil Company that envisaged OMV participating in Phase 12 and in a plant that would liquefy the field's gas for export in LNG tankers, Gholamreza Manouchehri, the managing director of Petropars Company told the Mehr news agency on Sunday.
""Negotiations have been stalled due to the Austrian firm's wavering on doing its obligations,"" Manouchehri noted.
Helmut Langanger, OMV exploration and production director, had previously said that the political environment and financial framework would have to be right before the company could proceed with its planned investment in Phase 12 of the giant South Pars offshore gas field.
Langanger told Reuters in June there was a possibility that Iran could develop Phase 12 without OMV, if the company did not come on board in the next two to three years.
© Tehran Times 2009
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