Iran & Bahrain Gas Deal
By Micah Halpern
Monday September 6, 2010
I've Been Thinking:
Iran and Bahrain are about to sign a deal to create an underwater, natural gas, pipeline linking their countries and allowing for the safe exchange of gas.
It is a two-stage deal. Stage # 1 will have Iran sending 500 cubic feet of gas per day to Bahrain. Stage # 2 will be the transfer of nearly a billion cubic feet of gas.
According to the Mehr news agency, on Saturday Iran's Deputy Oil Minister, Javad Oji, said that Iranian and Bahraini officials met in Tehran to discuss measures for the establishment of a joint commission to increase cooperation in the natural gas sector.
He said: "If [a deal is] finalized, a new natural gas pipeline will be built under the Persian Gulf waters; the pipeline is expected to transfer one billion cubic feet of Iran's gas to Bahrain."
Iran holds the second largest reserve of natural gas in the world after Russia
The purpose of the agreement is simple: it is an end around world sanctions.