Tehran and Seoul are in talks over the possibility that the Korea Gas Corporation (KOGAS) may construct an undersea gas pipeline that would link Iran and Oman.
According to a report carried by South Korea’s Pulse News on Wednesday, National Iranian Oil Company (NIOC) and National Iranian Gas Export Company (NIGEC) may sign a memorandum of understanding (MoU) with KOGAS on the construction of the pipeline in April or May.
The $1.5 billion pipeline project will be completed in three phases to cover the Iran-the Strait of Hormuz section, the strait section and the Oman-LNG terminal section, the report added.
Natural gas produced from gas fields in Iran’s huge offshore South Pars energy hub will be sent to the Sohar industrial port complex in Oman via the pipeline and then to the rest of the world through vessels departing from LNG terminals there.
The project began to be studied 10 years ago and in 2013 Iran and Oman agreed to push for the plan. It was almost aborted due to anti-Tehran sanctions later but was revived after Iran and six world powers reached a nuclear agreement in July 2015.
(Source: Tasnim, under Creative Commons licence)