Financial Times: Shell and Repsol drop Iran gas project
By Anna Fifield in Tehran and Javier Blas in London
Published: May 11 2008 19:00 | Last updated: May 11 2008 19:00
Royal Dutch Shell and Spains Repsol have pulled out of one of Irans biggest gas projects, dealing a blow to Tehrans attempts to expand its energy exports in the face of US and international sanctions.
The pair will withdraw from the $10bn-plus development of phase 13 of South Pars, the worlds largest gas field. They say they could still participate in other phases.
Their decision is made as Washington intensifies pressure on international companies to stop operating in Iran, part of a campaign to isolate Tehran over its refusal to halt its nuclear programme.
Neither Shell nor Repsol would comment on the US pressure. People close to the companies cited geopolitical uncertainty and spiralling costs as the reasons behind the decision.
Shell has agreed the principle of substitution of alternative later phases for the Persian LNG project so that [the National Iranian Oil Company] can proceed with the immediate development of phase 13, Shell said.
Shell and Repsol last year signed a preliminary deal with the NIOC by which the two European companies would help develop phases 13 and 14 of South Pars, contributing the gas to the Persian liquefied natural gas project. They are likely to continue to act in a technical advisory role on phase 13.
Iran had been pushing Shell and Repsol to finalise the deal because phase 13 is on the South Pars border with Qatar, which is already pumping gas from its side. Irans oil minister last month gave the pair, with Total of France, which is involved in phases 11 and 12, a June deadline for finalising their respective contracts.
Russias Gazprom, Sinopec of China, and the Indian national oil company were all keen to take their place, he warned.
Shell said on Sunday it would pull out of phase 13 because it could not meet the Iranian requirements to develop the block quickly.
Pars Oil and Gas Company and NIOC both declined to comment.
Shell and Repsol are understood to be considering developing phases 20 and 21 of South Pars instead, but these blocks would take at least a decade to become operational.
The whole project hangs in the balance. We have not yet taken a decision as to whether to proceed with the Persian LNG project, Shell said.
Copyright The Financial Times Limited 2008
http://www.ft.com/cms/s/0/2428c5c6-1f83-11dd-9216-000077b07658.html
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
