Sunday, March 15, 2009

China Developing Natural Gas Field in Iran

China will help in the exploration of the offshore South Pars field, believed to be part of the world's largest natural gas reservoir. The deals points to the limitations of U.S. sanctions.
By Borzou Daragahi
1:31 PM PDT, March 14, 2009
Reporting from Beirut -- Iran announced a $3.2-billion natural gas deal today with China, a move that underscored the difficulty of using economic sanctions to pressure Tehran to bow to Washington's demands on its nuclear program.

Iranian state television quoted a senior government official as saying the deal with a Chinese consortium, announced two days after the Obama administration renewed U.S. sanctions against the Islamic Republic, would eventually include an unnamed European country as a partner.

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