Publishe Date: 12:10 PM - 8/30/2014 | Print

Oil Minister: Iran to Begin Exporting 20 mcm/d of Gas to Oman Soon

Economy - Iranian Oil Minister Bijan Namdar Zanganeh announced that Iran will soon start gas supplies to Oman as per the agreement reached between the two countries

"Gas negotiations with Oman are over and as both sides have agreed Iran will export 20 million cubic meters per day (mcm/d) of gas to Oman in the near future," Zanganeh said on Saturday.

In August 2013, Zanganeh and his Omani counterpart signed a Memorandum of Understanding (MoU) to accelerate finalizing the gas contract between the two sides.

The Islamic Republic of Iran as the largest owner of gas reserves in the world is the most secure and most economic source of gas exports to the neighboring countries.

In September 2013, Managing-Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi explained that once the deal is signed, Tehran and Masqat will need 2.5 to 3 years to build the infrastructures needed for the supply of Iran’s gas to Oman.

Araqi said that the preliminary studies have been underway to finalize a gas contract with Oman.

He said that the NIGC was studying different aspects of the issue, including economic assessment of the contract and a report on the possible routes.

He stated implementation of "gas contracts required preliminary expert studies which takes time".

After several years, reaching agreement on gas price is a breakthrough, NIGC managing director said, adding the two countries have many common grounds for boosting cooperation, including feeding Oman’s LNG units with gas.

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