In a statement,Crescent Petroleum asserts that its agreement for the import of Iranian natural gas into the United Arab Emirates(UAE)is still valid and that it is quite"wrong to say that a dispute has suspended its execution."The Iranian Oil Minister,Mr.Kazem Vaziri-Hamaneh,had earlier indicated that Iran was negotiating with other potential customers"who are prepared to pay market prices"for the gas that is destined in principle for Crescent Petroleum,unless the dispute over the price of deliveries to the UAE is settled."We have also envisaged utilizing the gas locally,"said the Minister,as quoted by the Iranian newspaper Donya-ye-Eqtesad.
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