British-Dutch Shell and Spain's Repsol signed a deal with Iran in 2007 to develop the production and exports of liquefied natural gas (LNG) in phases 13 and 14 of South Pars. The region has the world's largest reservoir of gas, but the project has to be implemented yet. Many foreign countries are investing in the field which Iran shares with Qatar.
In April last year, Iran set a deadline for Shell and Repsol to make clear their involvement by May 20, however it hasn't been met until now. The West powers, above them the United States have pressured oil companies to withdraw from oil and gas projects in Iran, because defiant to their requests and intimidations, Tehran is pursuing its nuclear program.
Vakili says Iran is to finalize negotiations with Royal Dutch Shell, Europe's largest oil and gas company as well as Repsol, Spain's largest oil group. Tehran has done the same in the past but to no avail.
The managing director of Iran's Pars Oil and Gas Company also maintains the time has come for Turkey which planned to invest in developing phases 22, 23 and 24 of South Pars, as the Islamic Republic will not delay the development waiting for foreign compani