Iran is set to begin supplying Oman with natural gas in mid-2015, under a preliminary agreement signed between the two sides this week, Iran’s new Oil Minister Bijan Namdar Zanganeh says.

“Under the terms of the agreement signed, gas export operations from Iran to Oman will begin in less than two years,” the Ministry of Petroleum’s Shana news agency quoted Mr Zanganeh as saying. “This deal is based on the conventional 25-year gas supply contracts; and going by the current gas price, will be worth more than $60bn,” he added. (CONTINUED - 1145 WORDS)