International companies negotiating big gas development and LNG projects in Iran are casting an anxious eye on the diplomatic standoff over Iran's nuclear program,which could eventually lead to Iran's referral to the UN Security Council for possible economic sanctions.Further escalation of the crisis would force European majors such as Total and Royal Dutch Shell to reconsider their involvement in Iran and leave China,which is keen to deepen relations with Tehran by signing up for long-term supplies of oil and LNG,in a difficult position.India's earlier agreement to an advantageous LNG deal with Iran is already starting to look like a victim of the upheaval.
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