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.