China Pulls Out of Giant Iranian Gas Project

[TomSea]

China Pulls Out of Giant Iranian Gas Project
10/06/2019 | 12:49pm EDT

By Benoit Faucon

China National Petroleum Corp. has pulled out of a $5 billion natural-gas project in Iran as escalating tensions threaten to sever Beijing's trade with Tehran, a key lifeline for the Islamic Republic.

The exit by Beijing -- which had vowed to resist U.S. restrictions on Iran -- is a blow to Tehran's attempts to fight growing economic isolation and comes after Washington brought new sanctions on Chinese companies still trading with Iran.

Iranian oil minister Bijan Zangeneh said Sunday that domestic company Petropars Co. had fully taken over a development project in the South Pars gas field after CNPC exited it.

Read more at: https://www.marketscreener.com/NYMEX-HENRY-HUB-GAS-2356084/news/China-Pulls-Out-of-Giant-Iranian-Gas-Project-29341507/

Same article and the same author as the Wall Street Journal article.
https://www.wsj.com/articles/china-pulls-out-of-giant-iranian-gas-project-11570372087

RFERL Coverage:

Iran Says China Has Pulled Out Of South Pars Natural Gas Project
October 06, 2019

Iranian Oil Minister Bijan Zanganeh says China's national petroleum company has pulled out of a $5 billion deal to help develop Iran's giant South Pars natural gas field in the Persian Gulf.

The development, announced by Zanganeh on the ministry's SHANA website, comes amid economic pressure on both Iran and China from the United States.

It also follows a series of military confrontations in the area between Iran and the naval forces of Britain and the United States.

Read more at: https://www.rferl.org/a/iran-china-south-pars-natural-gas-project-pulled-out/30201771.html

[truth_seeker]

Speculating:

China knows Iran has supported China's muslims

China knows Iran blew up the Saudi facilities

[DB]

China also knows that some of their investments may get broken/burnt to a crisp at any time making the return on investment particularly risky in the current state of things...