CNPC announced: China National Petroleum Corp is close to sing an agreement for a $ 3.5 billion investment in a gas project in South Pars despite the U.S. pressure.
CNPC invests in Irans South Pars gas field; a senior CNPC official said. According to Dow Jones report, China National Petroleum Corp is the Chinas biggest oil company by assets and second one considering its production. The Chinese officer added: “The agreement with Irans National Oil Company would involve a pledge to spend $1.8 billion on exploration and production in the South Pars gas field and a $1.7 billion building a liquefied natural gas (LNG) plant.” Washington is pressing Beijing to reconsider a deal to invest in North Pars gas field. That deal calls for China National Offshore Oil Co. to invest $16 billion in the North Pars gas field. A Chinese Foreign Ministry spokesperson said Beijing considers such commercial ties with Iran to be fully legitimate and urged Washington not to interfere.
