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
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
