UAE's Dana in leap with Iraq gas deal - analysts - Reuters

DUBAI, May 19 (Reuters) - UAE's Dana Gas DANA.AD couldtransform itself from the Gulf region's largest private gascompany into a mini-multinational energy player if its plan topump gas from northern Iraq into European homes comes to pass.

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Dana, whose shares have risen 15 percent in two days, standsto sell more gas at a higher price with its scheme to kick-startthe Nabucco pipeline, providing a big boost to earnings -- butthe project still faces some hurdles, analysts say. "If this project was genuinely going to export gas, then wewould expect the gas to be sold at higher prices in the Europeanmarket relative to selling gas domestically in Iraq," said ScottDarling, an analyst at bank Nomura.

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