| 24 Apr 2006 |
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Iran: Majlis May Scrap UAE Gas Deal
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TEHRAN: A senior lawmaker said here on Sunday that if talks on the pricing mechanism for gas exports to United Arab Emirates prove fruitless, Iran will start to consider the cancellation of the high-profile project, stressing that the Parliament will henceforth exercise greater supervision on foreign deals.
Kamal Daneshyar, who heads the Majlis Energy Commission, told ILNA that speculations Iran cannot modify or annul the agreement with the UAE-based Crescent National Gas Corporation Limited (CNGCL), which is an affiliate of Dana Gas, a leading private natural gas company in the UAE, are unfounded.
"Every agreement stipulates such conditions of annulment, modification, compensation, etc." he justified.
He said the agreement reached between the National Iranian Gas Export Company and Crescent National Gas Corporation Limited has stipulated that the Iranian Parliament must declare its final views on the project.
He said the National Iranian Gas Export Company should not have struck such a long-term agreement with a foreign party without seeking parliamentary permission.
"We believe that the below two-cent per cubic meter price mentioned in the agreement is tantamount to the violation of Iran's rights," he said, adding that there is no reason to believe that some kind of collusion has been involved. "It was only a sort of ignorance."
Oil Minister Kazem Vaziri-Hamaneh said earlier that the deal was signed on the basis of the $18 oil price tag. "The agreement includes Iran's right to reconsider the value of its gas exports in the wake of an increase in the international price of oil."
The National Iranian Oil Company (NIOC) in 2001 signed a $2 billion agreement to supply gas to Crescent National Gas Corporation Limited.
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