Business | Oil & Gas
Iran says talks with Crescent positive
Iran said its latest talks with UAE's Crescent Petroleum over a long-running price dispute were "very positive", an Iranian news agency reported on Saturday.
- Reuters
- Published: 00:08 May 18, 2008
Tehran: Iran said its latest talks with UAE's Crescent Petroleum over a long-running price dispute were "very positive", an Iranian news agency reported on Saturday.
Iran and privately-owned Crescent, based in Sharjah, have been locked in negotiations about the price of gas exports from the Iranian offshore Salman field to the UAE since 2006.
Last month, Tehran threatened the UAE firm of domestically using the gas it planned to sell Crescent if the price dispute was not resolved.
"The results achieved are very positive and in line with providing Iran's national interests," Mehr news agency quoted Nasrollah Seifi, managing director of the National Iranian Gas Export Company, as saying when asked about Tehran's latest talks with Crescent. He did not say when the two sides met.
The UAE needs gas from the $1 billion project to meet rising domestic demand from industry and power plants, but the deal became controversial in Iran after some politicians said the export price should be higher.
Crescent has previously said the gas supply agreement signed with Iran was internationally binding.
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