South Korea’s Korea Gas Corporation (Kogas) is expected to be chosen to construct a $1.5bn undersea gas pipeline that would link Iran and Oman.

The National Iranian Oil Company (NIOC) and National Iranian Gas Export Company (NIGEC) may sign a memorandum of understanding (MoU) with KOGAS on the construction of the pipeline by April or May, reports South Korea’s Pulse News.

The project will be completed in three phases: Iran to the Straits of Hormuz section, the Straits to Oman, and the Oman-LNG terminal section.

Natural gas produced from gas fields in Iran’s huge offshore South Pars energy hub will be directed to the Sohar industrial port complex in Oman via the pipeline, and then shipped to the rest of the world on vessels departing from LNG terminals there.

Iran and Oman signed an agreement for the cross-border undersea pipeline in 2013.