FINANCIAL NEWS

Iran to export power to UAE, Qatar, Oman: Local media

27 Feb 2012

(MENAFN) Iran may sell USD2 billion worth of electricity to the UAE, Qatar and Oman once a gas field in the Arabian Gulf is operational, Tehran Times reported.

Deputy Energy Minister Mohammad Behzad told Fars news agency that Iran Offshore Oil Company (IOOC) recently inked a USD3.8 billion agreement with Power Projects Management Company (MAPNA) to develop a gas field in the Arabian Gulf.

The official added said that the field will produce 3000 megawatts of electricity, which a little of it will be consumed at home and the rest will be exported to neighboring countries, particularly the UAE, Oman and Qatar.

MAPNA managing director Abbas Aliabadi told the Shana news agency the project aims to produce one billion cubic feet of gas and 3,000 megawatts per day of power in the first phase, adding that some of the output will be exported to neighboring Gulf states.

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