Iranian envoy to Muscat says the Iran-Oman gas pipeline will be completed in 18 months.
Iran Ambassador to Oman Ali Akbar Sibouyeh says the pipeline which will carry natural Iranian gas to the Persian Gulf sultanate will be complete within a year and a half.
"The agreement on the gas pipeline dates back to 10 years ago when negotiations over the pipeline started, but the two countries could not finalize it. The main reason for this was failure to agree on the price of the gas to be exported," Sibouyeh said in an exclusive interview with the English-language daily Times of Oman
The Iranian ambassador said the gas pipeline would be launched in the next 18 months if things go according to the plan.
"The two countries have made much effort over the past 10 months in this regard," Sibouyeh said, adding, "The export of gas to Oman will mark a significant economic development in relations between the two countries," the ambassador added.
He stated that the excess gas, which is estimated to account for 50 percent of the total amount of Iranian gas exports to Oman, will be delivered to Japan, South Korea and India.
Sibouyeh described the trilateral economic cooperation between Iran, Oman, and India as 'strategic' which can play an important role in promoting peace and stability in the Persian Gulf region.
On August 26, Iran and Oman signed an agreement on the export of Iranian gas to the Persian Gulf state. The deal was signed between Iranian Oil Minister Bijan Namdar Zanganeh and his Omani counterpart, Mohammed bin Hamad Al Rumhy, in Tehran.
Under the contract valued at over USD 60 billion, the Islamic Republic will be delivering gas to the Persian Gulf sultanate for 25 years.