French multinationals, Iran to team up in Lebanon energy projects

The French multinational energy corporations Total SA and GDF Suez SA have invited Iran to cooperate with them in oil and gas projects in Lebanon, according to the representative of a French company.

Speaking at a press conference in Tehran, Majid Javedani, the representative of the French business law firm Fidal in Iran and Azerbaijan, said Total SA and GDF Suez SA have expressed interest in working together with Iranian oil and gas companies outside Iran’s borders, IRNA reported.
He added that a team of Total SA experts is in Lebanon and is currently holding talks with Lebanese officials, with the goal of expanding the French company’s business activities in the country.
Javedani said that studies commissioned by the Lebanese government show that the country possesses about 700 billion cubic meters of natural gas.
And it is projected that Lebanon’s offshore oil reserves could eventually produce an output of 90,000 barrels of crude per day, he stated.
He went on to say that the Chinese, U.S., and Russian rivals of Total SA are now ready to invest in Lebanese oil and gas projects.
In addition, cooperation with Western and Lebanese companies in Lebanon’s energy sector would be economically and politically advantageous for Iran, Javedani noted.
Source: Tehran Times

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