Monday 1 June 2009

UAE's Dana Gas to go ahead with Kurdistan project

UAE's Dana Gas will go ahead with its project in Iraq's Kurdistan region despite the federal government's rejection of the deal, a Dana Gas source told Reuters on Sunday.

This month the UAE's Crescent Petroleum and affiliate Dana Gas formed a consortium with Austria's OMV and Hungary's MOL to pump enough gas from Iraq's Kurdistan region to kick-start the Nabucco pipeline to Europe via Turkey.

Shortly following the announcement, the Iraqi federal government rejected the deal signed by the Kurdish Regional Government (KRG), creating a potential hurdle for the project.

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