A total of seven companies are ready to finance construction of a gas pipeline to Oman from Iran, Alireza Kameli, managing director of National Iranian Gas Export Company (NIGEC) was quoted as saying by Oman Observer.

“Seven foreign companies are keen on partnership with Iran on construction of Iran gas pipeline to Oman,” Kameli was cited by Irna as saying.

Construction of the pipeline takes two years after signing the contract, he was quoted in the report, which cited Irna.

Iran will export 28 million cu m gas daily through an undersea pipeline to Oman for 15 years to be turned to Liquid Natural Gas (LNG) in Oman and export to the markets.

“Joint venture investment has been envisaged for implementation of the project and now companies are willing to finance the project,” Kameli said.

The amount of the joint venture investment has been estimated at around $60 billion, the report said.