Total signs gas field deal

Nederlandse Vissersbond, the Dutch industry group for professional fishermen, is “very concerned”, chairperson Johan Nooitgedagt told Dutch broadcaster NOS. “They are pushing ahead hard and are not moderating their approach.”

The UK’s notification will set in train a two-year pull-out to be completed in July 2019, three months after the deadline for Britain’s withdrawal from the EU.

“The consequences for Dutch fishermen are very limited: we understand the sector does not or barely fishes in this part of the British waters,” the Dutch Ministry of Economic Affairs said. That is borne out in the figures: the five nations hauled some 10 000 tons of fish worth an estimated £17 million (R289m) within 22km of the British coast in 2015, according to the UK government. That compares with the total value of the country’s fishing industry of £775m in 2015. – Bloomberg FRENCH oil major Total said yesterday it had signed a contract with Iran to develop the giant South Pars gasfield, marking the first major Western energy investment since sanctions against Tehran were lifted. Total and the National Iranian Oil Company signed a deal to develop phase II of South Pars, which is the world’s largest gas field. The project will have a production capacity of 2 billion cubic feet per day, Total said. It said the gas would supply the Iranian domestic market from 2021. The first phase of the gasfield development will cost about $2 billion (R26bn), Total added. – Reuters