China goes for gas in Iran

Beijing glimpses a Middle East energy consolidation, by replacing France's Total in South Pars gas expansion venture

By the beginning of August, Total will know whether or not it has a future in Iran. The Iranian authorities have given it two months to seek an exemption from US sanctions on their country. Total is involved in the Phase 11 development of the huge offshore South Pars gasfield, which is shared with Qatar—with the Qataris calling it the North Field. As recently as April, the French firm issued tenders for sub-contracts for South Pars, still hoping for a miracle. The chances of the Trump administration allowing Total to ignore sanctions are remote. Furthermore, the likelihood is that France's loss will be China's gain. For Iran's oil minister Bijan Zanganeh said recently that "if the US adminis