Oman signs MoU to import Iranian gas

As recently announced by Iran’s Energy Ministry news service, Iran has signed a Memorandum of Understanding to export Iranian natural gas to Oman from 2015. The 25-year deal is valued at around US$ 60 billion.

The MoU was signed between Iran’s new Oil Minister, Bijan Namdar Zanganeh, and his Omani counterpart, Mohammed bin Hamad Al Rumhy. The MoU includes an agreement to start construction of a natural gas pipeline to Oman.

Following an earlier meeting with Oman’s Minister of Oil and Gas, Zanganeh had told Iran’s official IRNA news agency that the two sides reached good understandings on gas export to Oman and will pursue the next steps in the future.

According to the Oil Ministry news sevice, Zanganeh said after the signing ceremony held on Monday – "We can start implementation of the project; mainly because top executives of the two countries insist that the project should be implemented as soon as possible."

The MoU is considered as one of the most important achievements of a three-day Omani senior ranking delegation visit to Iran, headed by Oman’s Sultan Qaboos.

Edited from various sources by Hannah Priestley-Eaton

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