Energy

"Gas services company SOFREGAZ S.A. signed a $42 million deal with Iran's state oil company NIOC on Wednesday on collecting and reusing natural gas that is being burned off in South Pars Gas Field in the Persian Gulf. The French firm will work with its Iranian partner, Sanat Sazeh Samin Company, to recycle 450,000 cubic meters of associated petroleum gas per day that is flared at South Pars 2nd Refinery, the NIOC news portal reported." (September 7, 2017)

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"French company, Sofregaz, has been fined $10 million for failing to implement a gas project in Iran. An international court in France has voted that the French company should pay $10 million to Iran for failing to meet its contractual obligations in establishing a gas storage facility in the country, Iran’s IRNA news agency reported on Sept. 17. Sofregaz had signed a contract to establish Yurtsha gas storage facility in Iran’s central city of Varamin." (Trend, "French Company Fined $10M for Failing to Implement Gas Project in Iran," 9/17/14)

"[L]eading companies from South Korea and Taiwan preferred to offer their quality polymeric products in Iran Mercantile Exchange (IME) to open the gate to the country's lucrative market... Korea Petrochemical Company [was] accepted by the IME to offer [its[ products in this market... Heavy Polyethylene grade P600BL from Korea Petrochemical Company were the items which were presented in petrochemical hall of the IME." (Fars, "South Korea, Taiwan Offer Polymeric Products in Iran Mercantile Exchange," 10/11/2014)

"In addition, the Department of State took action to impose sanctions on Italy-based Dettin SpA pursuant to the Iran Sanctions Act of 1996 (ISA), as amended by the Iran Threat Reduction and Syria Human Rights Act of 2012 (TRA). According to information available to the United States, Dettin SpA knowingly providing Iran’s petrochemical industry with goods and support whose value exceeded $250,000. Although the JPOA authorizes Iran to export petrochemicals, providing goods, services, and support for the maintenance or expansion of Iran’s domestic production of petrochemicals is not within the scope of sanctions relief under the JPOA and, therefore, remains sanctionable." (U.S. Department of State, "Additional Sanctions Imposed by the Department of State Targeting Iranian Proliferators," 8/29/14)

"Iran acknowledged on Saturday that oil swap deals with Caspian Sea producers had stopped, but said it was seeking talks with some oil companies on new terms.  Industry sources said in May that producers would suspend oil swaps with Iran from June 1 after Tehran steeply raised fees on operations to avoid an oil glut following lower sales of its own crude. They said Iran had deliberately made it uneconomic... Mehr named four firms it said had shown lack of interest in renewing swaps: Dragon Oil, Vitol, Select Energy Trading and Caspian Oil Development." (Reuters, "Iran says wants to renegotiate Caspian oil swaps," 6/19/10)

Exclusive: Dana Gas ready to import Iranian gas if supplies are 'reliable'

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"United Arab Emirates-based energy firm Dana Gas said an international tribunal had issued a favourable ruling in the dispute over a natural gas supply contract between its affiliate Crescent Petroleum and Iran. The tribunal ruled a 25-year contract for National Iranian Oil Co (NIOC) to supply gas to Crescent was valid and binding on both parties, and that NIOC has been obligated to deliver gas since December 2005, Dana said in a statement on Sunday. NIOC and Crescent signed the 25-year contract in 2001, with the price linked to oil. But deliveries were delayed as oil prices rose and some officials and politicians in Iran called for a revision to the gas pricing formula. Crescent Petroleum started arbitration proceedings in July 2009; a three-person arbitration tribunal was formed under terms of the contract." (Reuters, "UAE's Dana Gas says tribunal gives favourable ruling on Iran deal," 8/10/14)

"Construction of the plant is estimated to cost €1.2bn, according to an agreement signed last year. Russia will finance 85% of the costs via an export loan from Moscow to Tehran, with a five-year tenor, while the remaining will be covered by Iran, reports Russian media outlet Sputnik. Russia’s Technopromexport, part of the state-owned industrial conglomerate Rostec, and Iran’s Thermal Power Plants Holding Company (TPPHC) will manage the development of the plant. Construction is expected to take four and a half years and will include 350MW energy blocks and a desalting facility with a capacity of 200,000 m3 per day." (March, 2017).

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"MOSCOW (Sputnik) – Moscow and Tehran reached a preliminary agreement in November 2015 to allocate a $5-million loan to Iran, part of which the head of Rostec state technologies corporation said would be used by Technopromexport to construct a thermoelectric power plant in Iran. Rostec is Technopromexport's parent company."

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"Russia's Technopromexport is negotiating to build five power plants in Iran's East Azarbaijan province. Two power plants, each with 450MW output, two power plants, each with 350 MW output, and one power plant with 125 MW output, will be built if the company reaches an agreement with the Energy Ministry of Iran, Iran's Mehr news agency reported on June 29. 'Russia and Iran may sign an intergovernmental agreement this year on building from four to eight nuclear reactors, and, under the deal, the contract for the construction of the first two reactors as additions to Bushehr [nuclear power plant],' a source informed of the contract's negotiation process told Reuters on May 22."  (Trend, "Russia’s Technopromexport negotiating to build power plants in Iran," 6/29/14)

Prematecnica lists an agent in Iran. (Prematecnica Webiste, "Worldwide Agents")

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“As Iran’s 19th annual International Oil, Gas and Petrochemical Exhibition drew to an end in Tehran last week, it was hailed as a success by both organizers and participants alike. Though none of the European or American oil giants had taken part, there was a tripling of participation by foreign companies from countries such as Germany, Spain, Canada and Japan as well as the Chinese…At the moment, Western firms can at the most do only limited business with Iran due to sanctions, but those that took part in the Tehran expo say they are positioning themselves for the possibility that things might change. ‘Focusing on the Iranian market is very important for us because we think with the new government in Iran, the sanctions are near the end,’ said Juan Vicente Ortiz, a head engineer of Prematecnica, a Spanish firm which produces gas flares.” (Time, “Foreign Companies Strike Hopeful Note at Iranian Oil Fair,” 5/15/14)

"As Iran’s 19th annual International Oil, Gas and Petrochemical Exhibition drew to an end in Tehran last week, it was hailed as a success by both organizers and participants alike. Though none of the European or American oil giants had taken part, there was a tripling of participation by foreign companies from countries such as Germany, Spain, Canada and Japan as well as the Chinese…’We’ve seen extreme interest in our products from Iranian companies, both private and state owned,’ said Alexandre Chtcherbakov, president of the Canadian Techno and Power Tools Inc., which produces advanced lithium batteries that are used in oilfield drilling. ‘This is very promising for the future…Iran is a big opportunity for us. We stand to triple our total business, but we are not selling anything to them right now…We are a Canadian company and we will not do anything to jeopardize our position. We will keep on abiding a 100% by the sanctions regime.’” (Time, “Foreign Companies Strike Hopeful Note at Iranian Oil Fair,” 5/15/14)

SAMI attended Iran’s 19th annual international oil and gas show between May 6-9. (Press TV, “Foreign firms rushing towards Iran's oil market,” 5/6/14)

On its Company Website, Bernard Controls lists a distributor in Iran through Tehran-based company Aria Tajhiz Apadana. (Bernard Controls Website, "Contacts: Middle East")

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Bernard Controls SA (“Bernard Controls”) reportedly agreed to exhibit at the 22nd International Oil, Gas, Refining, and Petrochemical Exhibition (the “Exhibition”) that took place in Tehran on May 6-9, 2017.

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Bernard Controls attended Iran’s 19th annual oil and gas show between May 6-9. During the show, a Bernard Controls spokesman told Press TV that “this exhibition is a strategic importance for Bernard Controls,” and that “we want to grow” our presence in Iran. (Press TV, “Foreign firms rushing towards Iran's oil market,” 5/6/14)