Iran Minister: New South Pars Oil Projects Indicate Failure of Sanctions

Implementation of the phases 9 and 10 of the South Pars gas and oil projects by Iranian experts has indicated failure of the sanctions imposed on Iran by the West, the US in particular, Oil Minister Gholamhoseyn Nowzari said on Saturday, April 18.

Speaking on the sidelines of a ceremony to honor Iran's oil industry experts, Nowzari said that the successful implementation of the two phases of South Pars gas and oil projects in southern Iran was a unique model for carrying out further projects in Iran's oil industry.

Referring to an agreement between Iran and the United Arab Emirates for exporting gas from Iran to the Persian Gulf state, Nowzari said, "No gas will be exported to the UAE" unless the issues related to pricing and serving Iran's national interests are completely solved.

The minister stressed that Iran has received no proposal yet from the UAE side and no new deal has been made to this end.

As for the 14th International Oil, Gas and Petroleum Exhibition (Iran Oil Show) which is to be held in Tehran within the coming days, Nowzari said it would be an ample opportunity for presenting Iran's oil potentials.

Attended by 400 foreign and 760 domestic companies, the exhibition would also be a place for foreign companies to demonstrate their capabilities to cooperate with their Iranian counterparts on joint oil projects, Nowzari added. 

BBC Monitoring. Copyright BBC.