Iran, Oman in talks over gas deal

Iranian and Omani experts are discussing the contents of a deal on the supply of Iran’s gas to Oman, an official announced on Saturday, stressing that Tehran is already prepared to ink the final contract. “Exporting gas to Oman is being pursued seriously and experts of the two sides are discussing contents of the deal,” Managing-Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi told FNA. “Yet, we are right now ready to sign the contract," he said, and added, "As prescribed by the Iranian oil minister, the deal will be endorsed by the Iranian and Omani oil ministers, and we hope this to happen soon.” Araqi explained that once the deal is signed, Tehran and Masqat will need 2.5 to 3 years to build the infrastructures needed for the supply of Iran’s gas to Oman. In relevant remarks in September, Araqi said that the preliminary studies are underway to finalize a gas contract with Oman. He said that the NIGC was studying different aspects of the issue, including economic assessment of the contract and a report on the possible routes. He stated implementation of gas contracts requires preliminary expert studies which takes time. After several years, reaching agreement on gas price is a breakthrough, NIGC managing director said, adding the two countries have many common grounds for boosting cooperation, including feeding Oman’s LNG units with gas. Iran’s Oil Minister Bijan Namdar Zanganeh and his Omani counterpart signed a Memorandum of Understanding (MoU) in August to accelerate finalizing a gas contract between the two sides. The Islamic Republic of Iran as the largest owner of gas reserves in the world is the most secure and most economic source of gas exports to the neighboring countries.