Iran’s Oil Minister Gholam-Hossein Nozari has denied that the country reached a deal with Crescent to transport natural gas to the UAE.

Executive Director of the Crescent Petroleum Group Majid Hamid Jafar said on Tuesday that the UAE firm agreed to increase the price it pays for gas imports from Iran after several rounds of negotiation with Iranian officials.
“I have heard his
[Jafar’s] remarks, but there will be no gas sales to this firm unless the gas price is changed and our national interests are fully met,” Nozari told reporters on Saturday.
The National Iranian Oil Company (NIOC) and Crescent signed a deal in 2001 to transport natural gas through a 90-mile pipeline from the Salman field to Lavan Island in the Persian Gulf.
However, Iran increased its initial proposition on price, citing a sharp rise in international gas prices since the time the contract was agreed upon between the two entities.
Jafar said Crescent had proposed a ‘much higher’ price than the previous offer, adding that the firm was waiting for a response from the Iranian Oil Ministry.
NIOC head Seyfollah Jashnsaz, however, said on Wednesday that no talks had been held with Crescent on a price rise.
Nozari also said, “Crescent has not made any new proposals and there has not been any agreement with it.”
The original agreement envisaged a 25-year contract starting in 2005. Iran’s state auditors said the country could lose as much as $21 billion over the 25-year agreement if gas prices do not meet market conditions.
Based on the agreement, Iran was to export 195 million cubic feet of gas to the Persian Gulf state in 2005-2006 followed by exports of 230 million cubic feet, 300 million cubic feet and 350 million cubic feet in the following three years.
(Source: Press TV)