Sanctions forcing Iran's hand

TEHRAN, Sept. 4 (UPI) -- Iran is looking at Oman as one of its last markets to develop liquefied natural gas plants as Western-backed economic sanctions cripple Tehran's potential.

Top energy officials from Iran plan to meet their Omani counterparts next week to discuss gas exports and gas processing. Part of the deal could include provisions to process gas from a shared gas field near the Musandam Peninsula for exports to both countries, The National newspaper of the United Arab Emirates reported.

A deal with Oman comes as pressure from the West over the controversial Iranian nuclear program prompted energy majors Royal Dutch Shell and Total to back out of a deal to develop the South Pars field for LNG.

Oman, for its part, is facing a looming energy crisis due to a chronic gas shortage, while Iran is looking for a partner for development.

Iran holds the second-largest natural gas reserves in the world.