Publishe Date: 6:18 PM - 7/26/2013 | Print

Iran's Oil Minister: South Pars Development Moving Ahead despite Sanctions

Economy - Iranian Oil Minister Rostam Qassemi played down the effectiveness of the US-led western sanctions against Iran, and reiterated that the country's South Pars projects are moving on the right track of development despite embargos and pressures.

“South Pars phases are being developed through the efforts and endeavors of capable Iranian specialists and experts irrespective of the US-led western sanctions imposed against the Islamic Republic,” Qassemi said.

The South Pars gas field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. the North Dome, are in Qatar's territorial waters.

The South Pars gas field holds 8 percent of total gas reserves of the world and half of the country's proven gas reserves as well as is the host of the most important industrial complexes of the country and the most important part of oil industry's value chain.

Washington and its Western allies accuse Iran of trying to develop nuclear weapons under the cover of a civilian nuclear program, while they have never presented any corroborative evidence to substantiate their allegations. Iran denies the charges and insists that its nuclear program is for peaceful purposes only.

Tehran stresses that the country has always pursued a civilian path to provide power to the growing number of Iranian population, whose fossil fuel would eventually run dry.

Despite the rules enshrined in the (NPT entitling every member state, including Iran, to the right of uranium enrichment, Tehran is now under four rounds of UN Security Council sanctions and the western embargos for turning down West's calls to give up its right of uranium enrichment.

Tehran has dismissed West's demands as politically tainted and illogical, stressing that sanctions and pressures merely consolidate Iranians' national resolve to continue the path.

Tehran has repeatedly said that it considers its nuclear case closed as it has come clean of International Atomic Energy Agency (IAEA)'s questions and suspicions about its past nuclear activities.


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