The oil-rich federation has not seen the kind of pro-reform unrest spreading elsewhere around the Middle East and no protests have taken place since the uprisings against autocratic rulers started in Tunisia and Egypt earlier this year.
They may be oil rich but certainly are gas poor.
These are the same morons who tried to punish Iran several months ago under the command of the US.
Read this;published a couple minutes ago.
Iran, UAE Sign Gas Deal
TEHRAN- Tehran and Abu Dhabi officials have inked an agreement on export of Iran's rich gas reserves to the United Arab Emirates, an official revealed on Sunday.
"Based on the agreement, Iran's gas will be exported from the Salman field to the UAE at a price five times more than Qatar's exported gas," an official close to the gas talks between Tehran and Abu Dhabi told FNA today.
The official also announced that the gas deal was signed by the two sides three months ago but the Iranian oil ministry has not yet implemented the contract.
The source declined to reveal any other detail about the terms and volume of the contract or the date of its implementation.
Observers believe that the agreement could refer to a long-waited gas deal between Iran and the UAE's Crescent Company. The National Iranian Oil Company (NIOC) and the UAE's Crescent Company signed a deal in 2001 to transport natural gas through a 90-mile pipeline from the Salman field to Lavan Island in the Persian Gulf.
However, Iran increased its initially proposed price, citing a sharp rise in international gas prices since the time the contract was agreed upon between the two countries.
The original agreement envisaged a contract of 25 years starting in 2005. Iran's state auditors said Iran could lose as much as $21 billion over the 25-year agreement if gas prices do not meet market conditions.
Based on the agreement, Iran was to export 195 million cubic feet of gas to the Persian Gulf state in 2005-2006 followed by exports of 230 million cubic feet, 300 million cubic feet and 350 million cubic feet in the following three years.
Oman and Kuwait are among the Persian Gulf Arab states seeking natural gas supplies from Iran, which holds the second-biggest natural gas reserves in the world after Russia.
The UAE needs the gas to meet its rapidly rising domestic demand from industry and power plants.
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