Persian Gulf States Planning to Import Gas From Iran
TEHRAN (FNA) - Iranian Deputy Oil Minister for international affairs and trading Ali Majedi said that the members of the Persian Gulf Cooperation Council (PGCC), including Oman and the United Arab Emirates (UAE), plan to buy natural gas from Iran.
Speaking to the oil ministry's website, Majedi did not specify the exact volume of the PGCC's demand to Iran's gas but said their demand was less than the volume of gas Turkey and Iraq are willing to import from Iran.
The PGCC includes Qatar, Oman, Kuwait, Saudi Arabia, Bahrain and United Arab Emirates.
Majedi further added that during President Hassan Rouhani's recent visit to Oman, Tehran and Muscat reached an agreement on gas exports the Southern Persian Gulf state.
Under the terms of agreement with Oman, Iran is slated to export 10 billion cubic meters of gas per year to the neighboring country.
It is estimated Iran’s revenue from gas export to Oman to hit $60bln over the 25-year agreement.
The PGCC includes Qatar, Oman, Kuwait, Saudi Arabia, Bahrain and United Arab Emirates.
Majedi further added that during President Hassan Rouhani's recent visit to Oman, Tehran and Muscat reached an agreement on gas exports the Southern Persian Gulf state.
Under the terms of agreement with Oman, Iran is slated to export 10 billion cubic meters of gas per year to the neighboring country.
It is estimated Iran’s revenue from gas export to Oman to hit $60bln over the 25-year agreement.