Iran signed a 2 billion U.S. dollars gas deal with Crescent Petroleum of the United Arab Emirates (UAE), the English-language Press TV reported on Saturday. The UAE is the fourth largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) but it is in need of clean energy imports to fuel its rapid industrial growth.
Despite a recent decline in world oil prices, gas prices in the Gulf states, particularly in the UAE are on the rise.
"Natural gas is a fuel of choice for clean and efficient power generation," Crescent's executive director Majid Jafar was quoted as saying.
Xinhua
News
Discussions
Resources
Members
Iran signed a 2 billion U.S. dollars gas deal with Crescent Petroleum of the United Arab Emirates (UAE), the English-language Press TV reported on Saturday.
