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    Wednesday, April 16, 2008       Free Headline Alerts

    Europeans majors caught between sanctions threat, Iran deadline

    NICOSIA — Iran has sent an April 18 deadline for two European majors to agree on a natural gas development project.

    National Iranian Oil director Seifollah Jashnsaz said France's Total and Royal Dutch Shell have until April 18 to decide whether they would develop two Iranian gas projects in the Gulf, Middle East Newsline reported.

    The two Western companies, threatened with U.S. sanctions, have been hesitating over finalizing a deal to develop South Pars.

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    "The last deadline would be the end of Farvardin [the Iranian month that ends on April 18]," Jashnsaz said.

    At the same time, Pars Oil and Gas Co. director Ali Vakili said the deadline for Total and Shell would expire at the end of June 2008. In March, Iranian Oil Minister Gholamhossein Nozari said Teheran would not extend the June deadline.



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