Iran, Gazprom agree mechanism for settling South Pars debts
TEHRAN. Dec 14 (Interfax) - Iran and Gazprom have agreed the mechanism for repayment of debt owed to the Russian gas giant stemming from the project to develop the South Pars field, Gazprom Deputy CEO Alexander Medvedev told reporters.
"We've resolved everything," Medvedev said in Tehran.
A company representative said that the Iranian side had agreed the mechanism for repaying the debt.
Gazprom (30% stake), together with Total (40%) and Petronas (30%), participated in the implementation of the second and third phases of the development of South Pars in the Iranian part of the Persian Gulf. National Iranian Oil Company (NIOC) made payments to the project participants from 2002 to 2010, when payments were suspended due to the tightening of sanctions against Iran. Gazprom estimated the remaining debt at $17.6 million.
