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FINANCIAL NEWS
Oman, Iran sign gas pact
16 Mar 2014
(MENAFN) Oman and Iran have signed a memorandum of understanding (MoU) for importing natural gas for 25 years at a value of USD60 billion, Times of Oman reported.
Oman has been trying for years to import gas from Iran, but detailed terms and an agreement for the import of gas and for the pipeline was only signed last week.
The imported gas will be delivered through a 260-kilometer pipeline connected to the Sohar port in Oman.
The pipeline, to be completed within three years, will cost USD1 billion and will be entirely paid by the Sultanate.
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