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Total in talks to buy stake in Iran’s LNG facility, reports claim

Tehran, Iran
Tehran, Iran

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.

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