• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 3 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 6 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 2 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 3 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 days Modest drop in oil price: SPRs vs US crude inventory build
  • 2 days 2019 - Attack on Saudi Oil Facilities.
  • 4 days Ukrainian Maidan after 8 years
  • 4 days Peak oil - demand vs production
  • 5 days "How the CO2 shortage is impacting the food and drink sector" - Specialty Food Magazine
  • 5 days NordStream2
  • 6 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
Prepare For Volatility In Natural Gas Markets

Prepare For Volatility In Natural Gas Markets

Natural gas markets are preparing…

5 Trillion Reasons To Be Bullish On Tesla

5 Trillion Reasons To Be Bullish On Tesla

Tesla has established a strong…

Iran, Oman To Reroute Planned Gas Pipeline To Avoid UAE

Iran and Oman have agreed to alter the route of an underwater gas pipeline planned to ship Iranian gas to Oman in order to avoid territorial waters of the UAE, Iranian oil minister Bijan Namdar Zanganeh said on Tuesday, adding that the re-route would not have economic impact on the gas export project.

The pipeline – which has been in the works since 2013 – will export gas from Iran to Oman, where the gas will be liquefied and used for both domestic consumption and re-export. The agreement on which the two countries have been working is for Iran to supply gas to Oman via the new pipeline in a deal expected to be worth US$60 billion over a period of 25 years.

Last year, reports had it that the planned gas pipeline would be more expensive than initially thought if it were to change the route to avoid UAE waters. At the time of the early stages of the Iranian-Omani accord, the pipeline was expected to cost around US$1 billion, although the UAE never agreed to the initial project that would have crossed its waters.

Today, after meeting with Omani oil and gas minister Mohammed bin Hamad al-Rumhy, Iran’s oil minister Zanganeh said, as quoted by Mehr news agency:

The two countries agreed that the gas exports pipeline avoids waters controlled by the United Arab Emirates and passes through deep waters.”

Related: Markets Remain Bullish On Oil Despite Growing Risks

Representatives of Shell, Total, and Korea Gas Corp (KOGAS) also attended the Iranian-Omani meeting and expressed proposals on how they would participate in the project, Zanganeh said, noting that the project would involve US$1.2 billion in investment.

Iran expects to finalize talks over the gas pipeline project to Oman in early March, Zanganeh also said after the meeting with his Omani counterpart, Iran’s PressTV reported today.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News