NIOC, CNGCL reach gas sales deal - Khaleej Times Online

Crescent Natural Gas Company Limited (CNGCL) announced today that it has finally reached agreement with Iran's National Iranian Oil Company (NIOC) on the supply of Gas. The deal came to thumbing halt after the Iranian Parliament earlier in the year insisted that all previous agreements to the supply of gas to the UAE company be based on market prices rather than being fixed at prices of more than 5 years ago.
This has had a negative affect on Dana gas share price - a sister company of Crescent Gas. Crescent gas declined to shed light on the new re-negotiated gas price. Some analyst are still pessimistic about the supply of gas from Iran to the UAE.