The UK government is in talks with the US and the European Union over a possible exemption to Iranian sanctions that would allow BP to restart a North Sea natural gas field partially owned by a Tehran-controlled company, The Wall Street Journal reported.
The move comes as the US and its allies have welcomed the elevation of a new Iranian president earlier this year as a possible opportunity to re-engage Iran in talks about its nuclear programme.
But the effort also comes amid increasing worry in the UK over Britain’s natural gas supplies. Amid declining domestic gas output in Britain, prices have risen and the UK has boosted its imports.
BP’s Rhum field, in the North Sea, is 50% owned by an affiliate of Iran’s state oil company. BP closed it in 2010 amid tightening US and EU sanctions aimed at stopping Iran’s nuclear programme.
“The BP gas field could be exempted from sanctions under an EU Council Regulation adopted in December 2012 amending previous regulation on restrictive measures against Iran,” an EU spokeswoman has said. The spokeswoman declined to comment on talks over the exemption.
“We are working with the EU to ensure the long-term security of the Rhum North Sea gas field and will be making an announcement on this in due course,” said a spokeswoman for the UK.’s Department of Energy and Climate Change. A spokeswoman for the U.S. State Department confirmed discussions had been held with the British government on the issue, but declined to provide details, The Wall Street Journal reported.
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