Oman has signed a Memorandum of Understanding (MoU) with Iran to import gas from 2015 via a new pipeline, the Iranian Oil Ministry has revealed
Construction on the 25-year deal has been valued at around US$60bn and will be expected to commence once research on the route has been completed, Namdar Zanganeh, Iran’s oil minister, said.
Zanganeh added that Iran and Oman have signed the MoU for the construction of a gas pipeline under the Sea of Oman, on the east of the Strait of Hormuz.
Oman gas plants can produce up to 29.4mn cubic metres (cu m) of liquefied natural gas (LNG) a year but they have not produced more than 25mn cu m in the last five years, according to Oman LNG’s latest annual report.
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