Total chief says risky to invest in Iran

LONDON: It is too politically risky to invest in Iran at present, the chief executive of French energy giant Total said in comments published Thursday.

Christophe de Margerie's remarks cast doubt on the future of a major gas project in Iran where Total is slated, under a deal agreed in 2006, to exploit the phase 11 of Iran's giant South Pars gas field to produce liquefied natural gas (LNG) for export and to build a liquefaction plant.

Speaking to the Financial Times, he said: "Today we would be taking too much political risk to invest in Iran because people will say: 'Total will do anything for money'."

Iran warned in September it was prepared to go ahead with a major gas project using Iranian firms alone if Total gave in to political pressure and did not swiftly implement the deal.

De Margerie's remarks come a day after Iran test-fired its "Shahab-3" missile, tagged as having a 2,000-kilometre (1,240-mile) range, capable of reaching Israel.