Iran-Oman Gas Pipeline to be Complete in Year and half

Iran-Oman gas pipeline is expected to be ready within a year-and-a-half, Iranian Ambassador to the Sultanate, Ali Akbar Sibeveih, has told the Times of Oman.

Last month, the two nations signed a gas supply deal valued at around $60 billion. As per the deal, Iran will supply gas to Oman for 25 years starting 2015.

Oman plants can produce up to 10.4 million tonnes of LNG a year but has not produced more than 8.8 million in the last five years and output fell to 8.4 million in 2012.

"The export of gas to Oman will mark a significant economic development in the relations between the two countries," the ambassador noted, adding that the excess gas, which is projected to account for 50 per cent of the total amount of the gas exported to Oman, would be delivered to Japan, South Korea, and particularly India.