South Korea’s Korea Gas Corporation (Kogas) is in talks with Iranian authorities over the laying down of an undersea gas pipeline that links Iran and Oman, a report said.

An agreement towards this deal may be signed in April or May, reported Iran Daily, citing South Korea’s Pulse News.

The project is being led by Iran’s National Iranian Oil Company (NIOC) and National Iranian Gas Export Company (NIGEC).

The $1.5 billion pipeline project will be completed in three phases to cover the Iran-the Strait of Hormuz section, the strait section and the Oman-LNG terminal section, according to the report.

Natural gas from Iran’s South Pars energy hub will be sent to the Sohar industrial port complex in Oman via the pipeline and then to the rest of the world through vessels departing from LNG terminals, the report added.