Media shown natural gas facilities, just days after easing of sanctions

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• published: 31 Jul 2015
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Iran took international media on a tour of partially completed natural gas facilities in Asalouyeh on Wednesday, in an effort to entice foreign investors. The tour came just three days after Iran began implementing a November deal with world powers under which Tehran capped its uranium enrichment in return for the easing of some Western sanctions. The tour of part of the South Pars gas field was a way to show investors the energy sector's potential. Tehran could use outside expertise to further develop the sector. Management at the field said the lifting of the sanctions means greater access to the materials and services needed. Deputy Project Manager at the Asalouyeh field, Hamid Reza Fakkarzadeh, said previously "In order to obtain some of the material and services which are necessary in building refineries, we had to reach out to (domestic) dealers and middle-men." "But now that sanctions have been lifted we can reach out to the major suppliers," he said. Hamid Reza Masoudi, Chief-Engineer Supervisor of Phase 19 at the Asalouyeh field, added "Definitely, the reducing of sanctions which have been imposed on us unfairly, will pave the way for financial transactions between contractors and constructors." "We hope to be able to pay for and receive equipment from outside the country, however we have tried to make investments to get necessary equipment inside the country," he said. The field requires both foreign technology and investment to finalise production. The country has spent nearly 46 (b) billion US dollars building refineries in recent years, but it requires another 40 (b) billion US dollars to reach completion. Foreign energy giants had been working at the field, but most of them gradually left because of former President Mahmoud Ahmadinejad's anti-west policy, as well as the West's sanctions on Iran over of the Arab nation's controversial nuclear programme. By early 2010, almost all foreign companies had left the site. The field will enable Iran to hit international energy-hungry industries and consumers from China to Europe if the county gets access to foreign investors. Iran sits on the world's second largest natural gas reserves after Russia. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/8065ba4d17978aad6be213b4665b8e72 Find out more about AP Archive: http://www.aparchive.com/HowWeWork