Iran, Oman Sign Gas Export Pipeline Contracts, Eye 2018 Start-Up

Iran says it expects its gas to begin flowing to Oman by 2018, under a gas supply deal finalized between the two countries early last year. Previously valued by the Iranians at around $60bn, the agreement will see Iran export some 10bn m3/year (970mn cfd) of natural gas to Oman for a period of 15 years.

This is one of several regional gas supply deals Iran is trying to push through, particularly in light of the signing of the landmark nuclear accord with the international community in July, which should soon pave the way for a lifting of sanctions.

Despite holding the world’s second largest gas reserves, Iran was until just several years ago a net gas importer, as a combination of runaway domestic demand and sanctions-related delays in key gas development projects left precious little by way of gas available for export. (CONTINUED - 1042 WORDS)