Iran is set to establish onshore extension to its major gas pipeline project, which would transport natural gas from the Persian Gulf to South of the Sea of Oman, the National Iranian Gas Company’s CEO, Hamidreza Araqi, stated, according to Financial Tribune.
In February 2017, Iran signed a preliminary agreement with Oman for the pipeline project, which is estimated to cost around $1.2 billion. Yet, the agreement has been kept in the nascent stage.
Under the agreement, Iran is required to provide all infrastructure necessary for exporting natural gas to Oman via undersea pipelines and by land, Araqi, who’s also the Iranian Deputy Minister of Petroleum, said, according to Mehr News.
“The ministry of petroleum is responsible for carrying out this project that has to be implemented through two undersea and land phases. The undersea infrastructures of gas export to Oman have not been finished yet. Right after concluding this phase, however, we must turn to the land phase and its infrastructures,” Araqi pointed out.