BP plc (NYSE:BP) has predicted that its Shah Deniz natural gas project won’t be affected by upcoming Iran sanctions.

BP plc (NYSE:BP) Sees No Issue With Iran

BP plc (NYSE:BP) hopes that the upcoming sanctions on Iran will not affect its Shah Deniz natural gas project on the coast of Azerbaijan.

The company expects that this project will be exempted from the US and European Union sanctions.

BP plc (NYSE:BP)’s Shah Deniz marketing manager Steve Garlick said, “We are confident at the moment that we will not be captured by any change or escalation in the sanctions process. Obviously the situation is being monitored and we are actively involved with various political bodies and lobbyists and attempting to understand exactly what does this legislation mean for Shah Deniz. There is at the moment an exemption, whether that exemption actually holds remains to be seen”.

BP plc (NYSE:BP) company shares are currently standing at 44.90.

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