$60bn Oman-Iran gas pipeline project may become a reality

$60bn Oman-Iran gas pipeline project may become a reality

Muscat: Oman and Iran have agreed to revive the construction of a $60 billion gas pipeline between the two countries following the visit of Iranian President Dr. Ebrahim Raisi. The project was on hold for nearly ten years. Iran's news agency said last Saturday that Tehran has agreed to push forward the project and revive it as part of discussions during the Iranian president's visit to Oman. The deal for the undersea pipeline project was first signed in 2013. It would carry gas from Iran to the Musandam province of Oman. The agreement to revive the project was reached during the trip to Oman by Iranian Oil Minister Javad Owji before this week's visit of Iran's president. The deal was put on hold over price disagreements. When the US withdrew from the 2015 nuclear plan, the project suffered another delay. Experts say the revival of the gas project is timely as European countries are faced with supply problems from Russia in the aftermath of the Ukrainian invasion. "If both countries revive the gas pipeline project, many European countries will heave a sigh of relief as they will find an alternative gas source which will reduce their dependency on Russian supply,"