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Iran receives UAE's order for annual 30 trillion cubic feet of gas

TEHRAN, Nov. 12 (Mehr News Agency) -- The United Arab Emirates (UAE) has called for 30 trillion cubic feet of gas per year from Iran, the National Iranian Gas Export Company (NIGEC) managing director said here Monday.

Nosratollah Seifi added, "Iran will sell gas to the UAE if the two sides accord on the price."

High gas consumption has prompted the Emirates to demand a far larger volume the Crescent Petroleum did, justified the official.

The gas purchase deal of Crescent, also an Emirati firm, with Iran has been held up on a price row for two years.

Iran has announced it will not pump the commodity to the neighboring state until the price article is revised.

Crescent Petroleum had expected first deliveries of gas in mid-2006, reported the Petroenergy Information Network (PIN), adding the initial agreement was for the supply of 600 million cubic feet per day.

Crescent's affiliate Dana Gas was to process and transport the gas to utilities and industrial users in the UAE.

... Payvand News - 11/13/07 ... --

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