Sinking oil prices are pushing Oman to diversify away from oil, and talks with Iran for gas imports are continuing, the country’s oil minister Mohammed al-Rumhy said.
“We want this gas because we want to diversify away from oil,” said al-Rumhy on the sidelines of the Gas Exporting Countries Forum in Doha.
Giving the opening address at the forum, Qatar’s energy minister, Mohammed al-Sada said that the major challenge of today is the increasing volatility of the energy market.
“When the oil price is low, diversifying the economy is the talk of the town,” al-Rumhy added.
Iran and Oman signed an initial agreement in March to build 200-km undersea gas pipeline by 2018, to import 10 bcm of gas per year from Iran’s giant offshore South Pars gas field.
At the same time, Oman will continue to export gas in the form of LNG under long term contracts to Asian buyers, which will end around 2025, al-Rumhy concluded.
Press Release; Image: NIGC