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UN-sanctioned Iran Guards wing pulls out of gas projects
TEHRAN — An industrial wing of Iran's elite Revolutionary Guards said on Friday it was pulling out of two development phases related to the giant South Pars gas field in the…
TEHRAN — An industrial wing of Iran's elite Revolutionary Guards said on Friday it was pulling out of two development phases related to the giant South Pars gas field in the Gulf."Recently, in an oppressive move by the West, Khatam al-Anbiya has been slapped with sanctions," the industrial group said on its website Khatam.com."Given the current circumstances, continuing of our work in phases 15 and 16 may endanger the nation's resources. So we and our affiliate companies are pulling out of the consortiums (developing) phases 15 and 16."It did not offer other details.In late June 2006, Khatam al-Anbiya had won the contract to develop the two phases in a deal worth 2.09 billion dollars.Khatam al-Anbiya is one of 15 Iranian companies linked to the Guards which have been targeted in the latest round of UN sanctions imposed against Iran on June 9 over its controversial nuclear programme.The industrial conglomerate was created during the 1980-1988 Iran-Iraq war to help rebuild the country, and since then has diversified into sectors such as mechanical engineering, energy, mining and defence, especially under the presidency of Mahmoud Ahmadinejad.Several Guards commanders have previously said that the force could take up projects in the energy sector by replacing Western companies who halt their investments due to the sanctions.Iran, OPEC's second largest oil exporter, shares with the small state of Qatar the offshore South Pars gas fields in the Gulf that comprise 28 phases.Development of the giant offshore fields has been delayed by a lack of investment and technology, exacerbating Iran's severe gas needs. Copyright © 2010 AFP. All rights reserved. More »
last modification 2010-07-16 20:00:07
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