Qatar, Oman, UAE to buy $2 billion Iranian electricity

Qatar, Oman and the United Arab Emirates are likely to buy up to $2 billion worth of Iranian electricity once a gas field in the Arabian Gulf is operational, a senior Iranian energy minister has said this week.

The gas field is to be developed under a $3.8 billion deal between Iran Offshore Oil Company and Iran’s Power Projects Management Company and exports to the Gulf state look probable.

“The field will produce 3000 megawatts of electricity… which a little of it will be consumed at home and the rest will be exported to neighboring countries, particularly (the United Arab) Emirates, Oman and Qatar,” Iranian deputy energy minister Mohammad Behzad told the Fars news agency on Sunday.

According to Iranian media reports, Behzad had also estimated up to $2 billion worth of output could be sold to Qatar, Oman and the UAE.

Iran currently exports electricity to Turkey, Armenia, Turkmenistan, Azerbaijan, Pakistan, Afghanistan and Iraq, Arabian Business reported.