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Total signs major Iran gas deal, defying US pressure

06:28 EDT 3 Jul 2017 | Yahoo News

Total signs major Iran gas deal, defying US pressureFrench energy giant Total defied US pressure on Monday by signing a multi-billion-dollar gas deal with Iran, the first by a European firm in more than a decade. Total will 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. The 20-year project, which will eventually see the firms inject $4.9 billion, is by far the biggest vote of confidence in the Islamic republic since sanctions were lifted under a 2015 nuclear deal with world powers.


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