Live Update 
From the Liveblog of
Monday, July 3, 2017
From the Liveblog of
Monday, July 3, 2017
French energy giant signs major Iran gas deal, defying US pressure
Add ToI as a Preferred Source on GoogleFrench energy giant Total is set to defy US pressure by signing a multi-billion-dollar gas deal with Iran, the first by a European firm in more than a decade.
Total is to invest an initial $1 billion (880 million euros) in the South Pars offshore gas field as part of a consortium with Chinese and Iranian firms.
It is by far the biggest vote of confidence in the Islamic republic since sanctions were lifted under a 2015 nuclear deal with world powers.
Total’s CEO Patrick Pouyanne and Iranian Oil Minister Bijan Namadar Zanganeh are set to sign the 20-year deal, which will eventually see the consortium pour $4.8 billion into the project.
— AFP
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