One thing emerged clearly during my four days of meetings with the Iranians in Frankfurt last week. There is now enough European support to allow Iran to move forward with some of the biggest natural gas and LNG (liquefied natural gas) projects in a decade.
There are still long negotiations ahead, with considerable risk assessment necessary throughout the design and implementation stages.
Some of these projects will never see the light of day because, the risk factor will simply be too high. That’s despite the impressive bottom line potential here. You see, these deals will likely provide access to deeply discounted natural resources.
Both the governments in London and Berlin have announced intentions to increase business dealings with Tehran.
And major energy companies such as French Total SA (TOT) and Anglo-Dutch Royal Dutch Shell plc (RDS-A/RDS-B) are now well into what they hope will be multi-billion-dollar natural gas and LNG projects.
There’s just one stumbling block left…