Iran Sanctions Waiver for Azerbaijan Gas Pipeline
Iran Sanctions Waiver for Azerbaijan Gas Pipeline

Iran Sanctions Waiver for Azerbaijan Gas Pipeline

Iran Sanctions Waiver for Azerbaijan Gas Pipeline

US confirms Iran sanctions waiver for Azerbaijan's gas pipeline to Turkey and Europe. The Southern Gas Corridor has received a waiver from US sanctions against Iran's energy customers, an expected win for the project, designed to transport 16 billion cubic meters per year of Caspian natural gas to Turkey and southern Europe while bypassing Russia, Platts reported.
The executive order pertaining to that pipeline was signed by US President Donald Trump on Monday.
BP had been seeking a sanctions waiver for its development of Azerbaijan's offshore Shah Deniz fields, the source of the Southern Gas Corridor's natural gas.  Iran's NICO holds a 10% share in the second phase of Shah Deniz, potentially triggering US sanctions against Iran's petroleum investment.
US energy sector sanctions slated for November 4 will ban companies from the US financial system if they continue to do business with Iran. Countries that depend on Iranian oil imports are continuing to press the US government for waivers.
Trump's order did not bring the same clarity for BP's request for a sanctions waiver for its Rhum natural gas field in the North Sea, which shares ownership with the National Iranian Oil Company. BP's agreement last year to sell the field to Serica Energy was contingent on receiving a US exemption from Iran sanctions. The order did not appear to settle a big question the oil market watchers have had since Trump announced in May that he would reimpose Iran sanctions: Whether the ban on crude oil deals with Iran includes condensates?
The White House order said in a list of definitions that "petroleum products" included "miscellaneous products obtained from the processing of: crude oil (including lease condensate), natural gas, and other hydrocarbon compounds."


Short URL : https://goo.gl/f1zfnd
  1. https://goo.gl/UfBzrr
  • https://goo.gl/DaTHtx
  • https://goo.gl/fstjS9
  • https://goo.gl/9xMkah
  • https://goo.gl/bfSibB

You can also read ...

Russia Says US Sanctions on Iran "Unproductive"
United States' sanctions on Iran's oil industry are...
China to Cut Solar, Wind Subsidies
China will speed up efforts to ensure its wind and solar power...
Oil Coalition Seeks Consensus Ahead of Algiers Summit
With a critical meeting in Algiers fast approaching, a...
Abu Dhabi Planning Biggest Oil  IPO in Decade
Abu Dhabi is pushing ahead with an initial public offering for...
Crude Prises Higher as Supply Concerns Rise
Oil prices rose on Monday as investors worried about the...
New Power Capacity for Sistan-Baluchestan
Operations to build new combined-cycle power plants in...
Abadan  Refinery  Second Phase  on Track
The second development phase of Abadan Oil Refinery in...
ICOFC to Develop  Eight Gas Fields
Iranian Central Oil Fields Company plans to develop eight gas...

Add new comment

Read our comment policy before posting your viewpoints