Iran says Crescent should pay more for gas

TEHRAN, Sept 16 (Reuters) – Iran will find other customers for gas assigned to a deal being negotiated with Crescent Petroleum or use the fuel itself if the UAE firm does not agree to pay a higher price, Iran’s oil minister said on Sunday.

Iran and Crescent, a shareholder in the United Arab Emirates energy firm Dana Gas, have been locked in tortuous negotiations over pricing the gas for export, since it was signed in 2001.


The deal has become politically contentious in Iran, with many prominent politicians saying Iran will lose out because gas prices have risen sharply since the contract was agreed.

“Until the price is corrected, we are not going to sell them (Crescent) natural gas,” Gholamhossein Nozari told a news conference.

Reuters