Iran will go ahead alone with plans to develop a gas field that had initially been set aside for a joint project with Royal Dutch Shell Plc and Repsol YPF SA, a Shell spokeswoman said today.
The European energy companies have agreed to swap the gas development area, a block known as South Pars 13, for new blocks that will be developed later, a Shell spokeswoman said today.

"Shell has agreed the principle of substitution of alternative suitable phases for the Persian Liquefied Natural Gas project so that the National Iranian Oil Co. can proceed with immediate development of Phase 13," Alex Wright said by telephone from London today. ... Read full article