• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours U.S. Presidential Elections Status - Electoral Votes
  • 17 hours Evergrande is going Belly Up.
  • 8 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 24 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 4 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 4 days World’s Biggest Battery In California Overheats, Shuts Down
  • 3 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 12 hours Forecasts for Natural Gas
  • 3 days Ten Years of Plunging Solar Prices
  • 3 days Extraction of gasoline from crude oil.
Shell Exits Permian In $9.5 Billion Deal

Shell Exits Permian In $9.5 Billion Deal

Anglo-Dutch oil supermajor Shell is…

Record Copper Prices Are Threatening The Global Energy Transition

Record Copper Prices Are Threatening The Global Energy Transition

Skyrocketing commodity prices are weighing…

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