Total is reported to be in talks to buy a multi-billion dollar stake in Iran’s part built liquefied natural gas (LNG) export facility.
The French supermajor – the first of the big six to strike deals in Iran after sanctions were lifted – is said to be seeking entry to the country’s LNG market at a discount for reviving the abandoned project.
Sources say that Total want to buy into the Iran LNG facility at pre-sanction prices.
However another source close to the matter said several other oil majors are also in the picture and a deal with Total still some way off being sealed.
Total declined to comment.
Iran’s National Gas Export Co., a central stakeholder in the project, did not respond to requests for comment.