Iran's Oil Minister Gholam-Hossein Nozari said his country had proposed to transfer 500,000 cubic feet of gas per day to Kuwait, the semi-official Fars news agency reported Saturday.
Iran and Kuwait have discussed about a deal in this regard for over four years and "Tehran has made its proposals on the issue," Nozari was quoted as saying.
Earlier in November, Iran's satellite Press TV reported about an immanent gas deal between the two neighbors and quoted Nozari as saying that "we have already discussed the issue on the sidelines of the recent OPEC meeting in Doha."
According to the Middle East Economic Digest (MEED), Iran has agreed to export gas to Kuwait via pipeline and the first phase of the deal is expected to be launched by 2011.
Iran along with Russia and Qatar have the world's largest natural gas reserves which amount to 56 percent, out of which Iran's share is 16 percent and Russia and Qatar possess 26 percent and14 percent, respectively.
Both Russia and Qatar are major gas exporters but Iran is a net importer despite its huge reserves.
However, Iran wants to turn into a major player in the gas market and proposes to develop a formal organization akin to the Organization of the Petroleum Exporting Countries (OPEC).
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article