News

Iran plans $13 billion in
bond sales in 2011 to finance the development of phases 12, 15, 16, 17
and 18 of the South Pars natural gas field. Estimated total investment
to launch all phases will require $60 billion. When all phases are on
line, annual revenue will be $100 billion. The Central Bank of Iran will
permit Pars Oil and Gas Company to issue "nameless documents" that
under the law would fund oil industry projects. The bonds will be
denominated in 8% Euros for four years tax free. 
Analysis

The above is an extract from
an article by A. Yusifzade, Trend News Agency, Baku, published in the
Knight Ridder/Tribune Business News and cited by the Rigzone Newsletter
of March 11. What is important here is that Iran has the gas. No doubt
about that. Secondly, liquefied natural gas (LNG) is today's fuel and
tomorrow's fuel, sure to be higher priced as the decade wears on. In the
general turmoil surrounding recent political events in the Middle East
and North Africa, Iran appears to be coping with dissent well enough to
avoid great upheaval. Also, as western nations fall further and further
into the snares of financial folly, sanctions against Iran can only melt
into insignificance. The world needs Iran's gas. It is worth commenting
that in this age where the tax collectors of the West are turning every
stone looking for revenue, what can compe... >>>