Bahrain expects to conclude gas deal with Iran

Nicosia, Feb 21: Oil and GasThe Bahraini Oil and Gas Affairs Minister Abd al-Husain Mirza has said that he expects discussions between his country and Iran on the supply of natural gas to the island to be concluded before the end of the current year.

In the course of a visit by Iranian President Mahmoud Ahmadinejad in 2007 to Bahrain, the two countries signed a memorandum of understanding on the supply of one million cubic feet of Iranian natural gas a day to Bahrain.

The two countries had formed a joint Bahraini-Iranian committee which is currently discussing the means of transportation of the gas and decide from which gasfield Bahrain will be supplied the agreed volumes of gas. One of the most likely candidates is the Farsi gasfield.

Another point being discussed between the two sides is whether Bahrain would participate financially in the development of the gasfield, or just buy the gas.

According to press reports, the Iranian side will soon start negotiations with India’s ONGC Videsh for the development of the Farsi gasfield. (ANI)