Global Business in Iran Database

In-depth metrics and analysis of Iran's international economic partnerships.

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Crescent - NIGEC, Gas Export to UAE, Salman Field

description

Iran and the UAE signed a $2 billion 25-year natural gas contract, agreeing on gas delivery in 2005.  Since then, Crescent and NIGEC have not come to terms, and no gas has been shipped.  Crescent has decided to seek international arbitration to solve the dispute.  The original contract stipulated the NIOC was supposed to export 17 million cubic meters of gas daily. Iran has said that the gas will come from the Salman gas field.  Iran hopes to begin production of 540 million cubic feet per day from the Salman field by February 11, 2010. Negotiations are planned between Crescent and Iran in June of 2010, and the Emeriti company is hopeful that the pipeline will start this year.

Status

  • Current Status:
  • Discussion Date: Sat, 2008-10-11
  • Contract Date:
  • Completion Date:

Citation

1. "Iran, UAE Sign $2Bln Gas Deal." Fars News Agency. 11 October 2008. Available at http://english.farsnews.com/newstext.php?nn=8707200972.

2. "UAE's Mubadala bids for Iran gas as Crescent deal stalls." Mehr News Agency. 16 August 2009. Available at http://www.payvand.com/news/09/aug/1134.html.

3. "Tehran names Salman date", Upstream Online, 3 February 2010, available at http://www.upstreamonline.com/live/article205005.ece.

4. "UAE plans gas pipeline talks with Iran", UPI, May 17, 2010, available at http://www.upi.com/Science_News/Resource-Wars/2010/05/17/UAE-plans-gas-p...

All projects by Crescent Petroleum