Reuters: Oman to Speed up Gas Import Plans from Iran Post-Sanctions

Oman expects speedier completion of a planned pipeline to import natural gas from Iran now that international sanctions against Tehran have been lifted, the energy minister of the Gulf sultanate said on Thursday.

Iran sits on one of the world's largest gas reserves, which Oman has been eyeing as it hopes to feed energy-intensive industries and liquefied natural gas (LNG) export plants.

Price disagreements, Western sanctions that have stunted Iranian energy projects and U.S. pressure on Oman to find other suppliers have prevented real progress on the pipeline project.

In 2013, the two countries signed an agreement on gas supplies to Oman in a deal valued at $60 billion over 25 years. Since then, however, the project - which includes building a subsea pipeline - has stalled.

"I am very optimistic that now the sanctions have been lifted, the gas pipeline project will move in a faster track than before," Oman Energy Minister Mohammed bin Hamad Al Rumhy told Reuters by telephone. MORE