Iran and Oman this week signed an agreement that will see the Islamic Republic export 10 billion cubic meters/year (970mn cfd) of natural gas in a deal previously valued by the Iranians at $60bn. This comes at a crucial time for the sultanate of Oman, which like its Arab Gulf neighbors, is facing an ever-widening gas feedstock shortage owing to rampant domestic demand.
The deal, struck during Iranian President Hassan Rohani’s first state-visit to the Omani capital since taking office last August, follows the signing of a memorandum of understanding (MoU) between the two countries late last year (MEES, 30 August 2013). (CONTINUED - 1047 WORDS)
