Total Seeking to Buy Stake in Iranian LNG Project
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in Iran’s South Pars gas field project which will developed at an investment of $4 billion. Sources told Reuters in February that Total was in talks to buy a multi-billion dollar stake in Iran's partly-built LNG export facility.
Despite Sanctions Relief, Shell Still Cool on Iranian Oil Buys
Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade. The Anglo-Dutch firm did not give a reason for the drop in purchases, which were disclosed in its annual report, and the company declined to comment further. But oil trading sources say Iranian oil is often too expensive and in any case remaining sanctions make dealing with the Islamic Republic a legal minefield. As an example of sanctions-related difficulties, Shell's filings showed it had to disclose payments of only a few hundred dollars when its employees bought tickets with Iranian airlines.
Iran and India to Revive Shipping Joint Venture
Irano Hind Shipping Company, a joint venture between Shipping Corporation of India (SCI) and Islamic Republic of Iran Shipping Lines (IRISL) which was dissolved in the face of the US-led anti-Iran sanctions, could be revived, reports Livemint. SCI says the recent nuclear understanding between Iran and the P5+1 group of countries could provide a new lease of life for the JV. “With the changed situation, anything can happen… The government has to take a call on whether to reverse its earlier decision to dissolve the company,” an SCI spokesman said.
Russia, Iran in Shipbuilding MoU
Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and Russian Krasnye Barrikady Shipyard has signed an Memorandum of Understanding (MoU) for ship building activities. According to a report by MNA, the MoU was signed by managing directors of ISOICO and the Krasnye Barrikady Shipyard with the presence of Iran’s Deputy Minister of Industry, Mine and Trade Mojtaba Khosro Taj. ISOICO Managing Director Hamid Rezaeian said that three important indicators of the MoU are engineering discussions…
Total in Talks to Buy Iranian LNG Project
Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a discount to the pre-sanctions price in exchange for reviving the stalled project, two sources with knowledge of the matter said. A third source confirmed Total was in the running for a stake, alongside several other oil majors, but any deal was still some way off. Total declined to comment. Iran's National Gas Export Co. (NIGEC), a central stakeholder in the project, did not respond to requests for comment by email and phone.
First Iran-made Liner Set for Launch
The first Iran-made ocean liner, named Iran-Arak, will be launched next week, Iran Mania reported. The Iran-Arak is the largest ocean liner constructed by a Middle Eastern country, adding that the project was undertaken by Iran Offshore Industries Company at a cost of $35 million. The vessel is one of the five shipbuilding projects implemented at the company and took two years to complete. It will have the capacity to carry 2,130 containers. Iran-Saei, which was named after Hadi Saei, Iran’s taekwondo gold medalist at the Athens Olympics, is 300 meters. (Source: Iran Mania)
Temporary Easing of Iran Sanctions in Effect Jan. 20, 2014
The accord reached between Iran and the five permanent members of the United Nations Security Council (the United States, China, Russia, Great Britain and France) and Germany (the P5+1) in November 2013, becomes effective Jan. 20, 2014, for a six-month interim period. The accord provides limited sanctions relief for Iran in exchange for a halt to Iran's nuclear development program. While some of the details regarding the specific scope of sanctions relief are not yet public, this alert provides initial information about the scope and impact of these measures. On Nov. 24, 2013, the P5+1 reached an interim accord with Iran called the Joint Plan of Action. This accord is intended to provide an interim compromise to give negotiators an opportunity to conclude a more permanent agreement.
U.S. Puts Clamps on Iranian Shipping Companies, Ships
The U.S. Treasury Department yesterday said the United States is imposing additional sanctions on Iran’s nuclear and ballistic missile proliferation networks, and is also taking additional steps to prevent the evasion of sanctions by publicly identifying a group of Iranian front companies and banks. “Iran today is under intense, multilateral sanctions pressure, and we will continue to ratchet up the pressure so long as Iran refuses to address the international community’s well-founded concerns about its nuclear program,” said Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen. Continuing the effort to target Iran’s nuclear and missile proliferation activities, the U.S.
Iran Offers India Bigger Role in Developing Port of Chabahar
The port of Chabahar in southeast Iran is central to India's efforts to circumvent arch-rival Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests. According to a Reuter's report, Iranian President Hassan Rouhani has asked India to invest in infrastructure projects worth $8 billion, including an expanded role in developing a strategic port that will open up access to Central Asia, Iran's envoy to New Delhi Gholamreza Ansari said.
Daewoo to Develop Iranian Shipyard
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing the shipbuilding Industry in Iran. Under the deal with the Industrial Development and Renovation Organisation of Iran, Daewoo Shipbuilding will work on constructing a shipyard and related facilities in Iran, according to Yonhap News Agency. The parties plan to establish…
Iran to Export LNG by 2011
Iran has signed a memorandum of understanding (MOU) to export natural gas to Italy, to be implemented by 2011, says an IranMania report. Iran will also export gas to China by the end of the current year. China’s oil giant Sinopec Group signed a $70 billion oil field development and LNG agreement with Iran earlier this fall, according to the report. Iran will attain an annual LNG export of 36 million tons, worth $6 billion, by 2015. Source: IranMania
Exmar to Use Iranian Carriers to Ship LNG
Reuters has reported that Iranian shipbuilder SADRA said it would build 10 ships for Belgium's Exmar to export Iranian liquefied natural gas (LNG) although Iran's efforts to produce the fuel are deadlocked. The total value of the 10 high-technology vessels would be $2.4b, Iran's Industry Minister Alireza Tahmasbi told state television. He told the ISNA students news agency that SADRA might sign a another deal for four more ships. High-value energy deals with Iran put companies at risk from U.S. sanctions. Washington accuses Iran of seeking nuclear arms, a charge Tehran denies. Iran has lacked the investment and technology to develop its reserves for export.
ClassNK Bows to UANI Request to Close its Iran Office
United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Last week, UANI called on ClassNK, to close its Tehran office and stop certifying Iranian entities. "We applaud ClassNK for pledging to close its Tehran office. Once it follows through on today's announcement to end its work in Iran, ClassNK will have closed yet another avenue for the Iranian regime to circumvent international sanctions. We call on the Korean Register of Shipping and others to follow the lead of ClassNK, Bureau Veritas, Germanischer Lloyd, and others and help impose an international shipping blockade on Iran. UANI has highlighted the shipping industry as an area where the international community can further pressure Iran.
Iran to Step up Production One Week post-Sanctions
Iran will boost its crude oil production within one week once international sanctions are lifted and is determined to regain its lost market share, senior Iranian oil officials reiterated on Monday. Iran will raise production by 500,000 barrels per day in the first week after sanctions are lifted, Rokneddin Javadi, general manager of the National Iranian Oil Company, was quoted as saying by oil ministry news agency Shaha. "A 500,000-barrel increase in Iran's oil production will take place in less than a week after the effective lifting of sanctions," Shana quoted Javadi as saying. On Sunday, the United States approved conditional sanctions waivers for Iran…
Annual Economic Sanctions Update
Iran Continues to Dominate U.S. Since last year’s update appeared in the May 2012 issue of Maritime Reporter & Engineering News, Iran has continued to dominate U.S. sanctions headlines. Significant actions by both the U.S. Congress and Department of the Treasury’s Office of Foreign Assets Control (OFAC) over the past year have increased sanctions against Iran substantially, and further initiatives are pending. Our 2013 update concentrates on these key developments, with particular focus on Iran sanctions of interest to the maritime community.
UANi Surveillance Points Up Swedish Iran Sanction-buster Tankship
United Against Nuclear Iran (UANI) has called on Sweden’s Stoc Holding AB to explain and cease its business to and from Iran with the tankship 'Persia'. According to UANI, Stoc Holding controls a vessel, called the "Persia," that appears to operate a dedicated route in support of Iran's petrochemical industry. Stoc Holding openly advertises its ties to sanctioned Iranian entities on the front page of its website. UANI recently launched its Maritime Intelligence Network and Rogue Vessel Analysis (MINERVA) system, to provide real-time tracking and course prediction for Iranian and Iran-related vessels. MINERVA’s unique capabilities allow UANI to monitor such vessels, and take relevant action to halt illegal Iran-sponsored shipping schemes.
Iran Containership to be Launched
Persian Gulf, the largest bulk containership of Iran’s commercial fleet is to be launched in the Chinese port of Shanghai on April 25. The 74,000-ton ship is the fourth carrier built by China’s Jiangnan Shipyard Corporation, a subsidiary of China State Shipbuilding Corporation (CSSC), which is located in Changxing Island. The company had earlier built and launched three ships of the same type, Panamax, 225 meters long, named Iran Tabas, Iran Bojnurd, and Iran Birjand. Iran Bojnurd was launched in Shanghai last November. Iran had submitted its orders to Jiangnan Shipyard, formerly named Jiangnan Shipbuilding Works, three years ago. The first of the ordered ships, named Iran Tabas, was launched in July 2005.
India to Sign Port Deal with Iran
India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S. pressure not to rush into any deals with Iran. India and Iran agreed in 2003 to develop a port at Chabahar on the Gulf of Oman, near Iran's border with Pakistan, but the venture has made little progress because of Western sanctions on Iran. Now, spurred on by Chinese President Xi Jinping's signing of energy and infrastructure agreements with Pakistan worth $46 billion, Modi wants to swiftly sign trade deals with Iran and other Gulf countries.
Khamenei Says Iran Nuclear Weapons are a U.S. "Myth"
Iran's Supreme Leader Ayatollah Ali Khamenei told military commanders on Sunday the United States had created the "myth" of nuclear weapons to portray Iran as a threat, hardening his rhetoric before nuclear negotiations resume this week. Khamenei, the highest authority in Iran, has supported the talks but continues to express deep mistrust of the United States. "They created the myth of nuclear weapons so they could say the Islamic Republic is a source of threat. No, the source of threat is America itself…
Iran to Exporting LNG via Terminals in Spain
The proposal was discussed during the meeting of Iran’s Oil Minister Bijan Zangeneh with the visiting Spanish Minister of Industry, Energy and Tourism José Manuel Soria López. Iran was previously pursuing several major LNG projects that included Pars LNG, Persian LNG and Iran LNG. But they were later abandoned as complications grew – mostly as a result of US-sanctions that prohibit investments of liquefaction enterprises in Iran. A recent alternative for Iran – albeit less spoken…
CMA CGM to Reinstate Iran as Port of Call
The Marseille-based French company CMA CGM S.A has announced readiness to start operation in Iran on August 6. CMA CGM, the world’s third-largest shipping line in terms of container vessel capacity, will add Shahid Rajaei port in Iran to its Asia-Europe loop. Ebrahim Idani, director general of Hormozgan Ports and Maritime Department, told local media that CMA CGM's 11,500 teu Andromeda is expected to call in August. The French liner’s first priority is establishment of a shipping route to Iran and then make investment in the Islamic Republic’s maritime industry and development of ports…
India to Develop Iran's Chabahar Port
India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers. The port of Chabahar in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests. Iran and six world powers are engaged in talks to agree on a deal easing sanctions against Tehran before a late-November deadline.
Iran, Kazakhstan Deal for Shipping JV
The chief executive officers of Islamic Republic of Iran Shipping Line (IRISL) and Kazakhstan’s KTZ Express – a subsidiary of the country’s national railways company- signed an agreement for establishing a joint company. The deal could lead to the creation of a new transport corridor connecting Iran’s southern ports to the upper parts of Central Asia - and even possibly Russia and China. On the sideline of Iran's president visit to Kazakhstan, an agreement for establishing a joint…