Deal is based on a 2013 memorandum of understanding
Oman is finalising details of the implementation of the 2013 memorandum of understanding (MoU) on gas imports from Iran, National Iranian Gas Company (NIGC) chief executive officer Hamidreza Araghi is reported as saying today by the official Fars News agency.
He said an Omani trade delegation is in Tehran to complete the deal.
Araghi said the MoU calls for Iran to export 10 billion to 20 billion cubic metres of gas to Oman over a 25-year period.
The value of the total gas supplies in the 25 years is estimated to stand at $60bn, he said. The MoU calls for the gas to be supplied through a pipeline.
Oman has been the GCC state most enthusiastic about commercial links with Iran. In September 2013, Omans Sultan Qaboos bin Said al-Said visited Tehran and agreed the Iranian gas deal. Progress on the project has been slow, but observers say the possible lifting of international sanctions on Iran is likely to increase the pace of its execution.
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