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Iran's gas wealth tempts France's Total to take dose of political risk

Company's US$1b deal exposes it to an escalating regional diplomatic crisis


TOTAL SA made a US$1 billion bet on natural gas in Iran, swallowing a hefty dose of political risk in the hope of gaining first-mover advantage in the country with the world's largest reserves.

The deal to develop phase 11 of the giant South Pars field is the first investment...