Iran and Oman plan to establish a joint company to market liquefied natural gas (LNG). It is expected to be registered in Oman, and will have the sole responsibility of market natural gas to other parts of the world, Trade Arabia News reported.

During a meeting held in Tehran, the Iranian Oil Minister, Bijan Zangeneh, and his Omani counterpart, Mohammad Al-Rumhi, discussed different issues including the Iran’s gas pipeline to Oman project. As it was reported by ISNA, an engineering and marine installations company is conducting some studies and will provide Iran with its reports without any delay to prepare tender documents.

The gas pipeline is expected to allow Iran to export 28mcm of gas to Oman. “Oman and Iran will cooperate on the issue of oil prices,” Al-Rumhi said.