France to invest billions of dollars in Iran’s gas industry

Almaty. July 3. Silkroadnews – France will invest billions of dollars in the gas industry of Iran, the economic portal “The Street” writes.
According to the publication, today the French energy giant Total SA will sign more than $1 billion investment contract to develop a large Iranian gas field the South Pars.
According to publication, at the moment it is the largest Western investment into the Iranian economy since the sanctions relief.
Total invests in the 11th stage of the South Pars project together with the Chinese China National Petroleum Corporation, which will receive 30% of the project, with 19.9% to go to the Iranian Petropars. Iran expects the field to have a potential producing 50.9 million cubic meters of gas per day.
In turn, the Iraqi channel Rudaw estimates the deal to be times more expensive to amount close to $4.8 billion.