According to "Tehran Times", an economic expert said that China will need the help of foreign companies in order to develop Yadavaran oilfield. Nersi Qorban said that Chinese companies do not possess all the required technologies to do the work, adding that Iran should urge them to cooperate with a foreign contractor to prevent losses on the contract. Qorban added that exporting gas to China for a period of 25 years is considered the most important term in the contract in order to persuade the Chinese side into signing the contract. In addition, it seems the big gas deal will facilitate the process of long-term marketing for South Pars gas throughout the world. Head of the Institute for Energy Survey, Mehdi Asali said Sunday that the 25-year deal will encourage countries like Japan and North Korea to buy gas from Iran.

 (From InfoProd)

Source: Asia Africa Intelligence Wire

Iran's Oil Minister Bijan Namdar Zanganeh has ended a working visit to China. The minister noted the importance of the memorandum of understanding signed on annual selling of 10 million tons of Iran's natural gas to China and granting China the permission to carry out exploration, extraction and implementation of Yadavaran oil field.

Head of Iran's Institute for Energy Survey, Mehdi Asali said Sunday that the 25-year deal with China will encourage countries like Japan and North Korea to buy gas from Iran, adding, "These countries were earlier unwilling to sign gas exchange contracts with Iran".

Source: EMEconomy