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Repsol YPF

Spain

 

 

 

 

Date: November 2004 – June 2010

Deal: According to an industry publication, in November 2004, Repsol YPF and Royal Dutch Shell created the Persian LNG project, a $4 billion partnership with the National Iranian Gas Export Company (NIGEC) to develop a liquefied natural gas (LNG) plant in Assaluyeh for gas from South Pars phase 13 (APS Review Gas Market Trends, November 29, 2004).

According to Asia News International, the companies aimed to produce 10 million tons of gas per year for European and Indian markets by 2014 (Asia News International, October 20, 2008).

According to Repsol's website, in January 2007 the company signed a service contract with Shell for the Persian LNG project, "which contains the conditions for exploration and development operations in phases 13 and 14 of the South Pars field." These phases would supply an LNG plant, which has yet to built, but is expected to have a capacity of 8.1 million tons per year when complete (Repsol Website, accessed July 15, 2010).

In June 2010, Bloomberg reported that Iran had ended its ongoing discussions with Repsol and Shell on the South Pars gas project. Iran reportedly replaced the European companies with the Iranian Khatam-ol-Osea group that includes Khatam al-Anbiya, the Iranian Revolutionary Guard Corps' engineering arm (Bloomberg, June 6, 2010).

U.S. Business Ties: According to Repsol's website, the company has a subsidiary in the United States, Repsol Energy North America, headquartered in Texas. The company has stakes in 265 oil blocks across the U.S., 259 of which are exploration blocks (Repsol Website, accessed July 15, 2010).

Repsol has a 28 percent stake in the Shenzi-Genghis Khan oilfield in the Gulf of Mexico, one of the largest oil field discoveries in the deep waters of the gulf. Repsol began producing oil and gas from its platform there in 2009, according to its website (Repsol Website, accessed July 15, 2010).

According to USASpending.gov, Repsol and its subsidiaries have received over $500 million in federal contracts (USASpending.gov, accessed August 13, 2014) (USASpending.gov, accessed August 13, 2014).

Last Updated: August 13, 2014