Iran to supply Oman and UAE with gas

Oman and the UAE want to buy Iranian gas, said Deputy Petroleum Minister Ali Majedi. Iranian President Hassan Rouhani reached a related agreement in Oman during his visit in March 2014. Iran will export up to 10 billion cubic meters of gas annually for 25 years, Iran.ru reports.

At current gas prices, the deal should cost about $60 billion.

Majedi did not clarify the volumes of gas exports to the UAE. In his words, Oman and the UAE need less gas than Iraq and Turkey.