Sharjah dispute continues to put Iranian gas exports under a cloud

A 25-year deal was signed by National Iranian Oil Company (NIOC) and Sharjah-based Crescent Petroleum in 2001 for the export of sour gas from Iran’s offshore Salman gas field via pipeline. The gas was due to start flowing in 2005, with Crescent selling the feedstock on via Abu Dhabi Securities Exchange-listed Dana Gas (in which it has a cross-shareholding). The main buyers were expected to be Sharjah Electricity and Water Authority (Sewa); the UAE’s Federal Electricity and Water Authority (Fewa) and an unnamed Omani petrochemical company.