Iran to Revive Gas Pipeline Project to Oman, IRNA Reports

Iran’s oil minister has agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman, the Iranian state news agency IRNA reported on Saturday.

Iran has one of the world’s largest gas reserves, followed by Oman as it hopes to fill its energy-intensive industries and liquefied natural gas (LNG) export facilities. In 2013, the two countries signed an agreement worth $60 billion for Iran to supply gas to Oman via a submarine pipeline.

In 2016, while the two countries renewed their efforts to implement the project, Iran said in 2017 it agreed with Oman to reroute the planned pipeline to avoid waters controlled by the United Arab Emirates. The project was later delayed due to price disputes and US pressure to find other suppliers to Oman.

Source: Reuters