Persian Gulf States Interested in Iranian Gas

Members of the Persian Gulf Cooperation Council (PGCC) have expressed their willingness to buy natural gas from Iran, said Deputy Minister of Petroleum for international affairs and trading Ali Majedi.

Speaking to Shana news agency, he did not specify the exact volume but said their demand was less than the volume of gas Turkey and Iraq are willing to import from Iran.

PGCC includes Qatar, Oman, Kuwait, Saudi Arabia, Bahrain and United Arab Emirates.

On gas export to Oman, Majedi said that during his recent visit to Oman Iran’s president Hasan Rouhani reached an agreement with the country’s top officials on gas exports which would change Iran into a retailer in gas market when it come into force, Shana reported.

Under the terms of agreement with Oman, Iran is slated to export 10 billion cubic meters of gas per year to the neighboring country.

It is estimated Iran’s revenue from gas export to Oman to hit $60 billion over the 25-year agreement.