Vienna (DPA) -- The head of OMV, the leading oil and gas group in Central Europe, rejected Tuesday U.S. concerns about his company’s plans to develop Iran’s gas industry. Wolfgang Ruttenstorfer, chief executive officer (CEO) of Austria’s largest listed industrial company, told journalists, "Of course we will respect all national, EU and UN regulations."

The United States expressed concerns Monday about OMV’s plans for a natural gas project in Iran.

U.S. State Department spokesman Sean McCormack said the U.S. will bring its concerns up with the Austrian government and OMV, even though UN Security Council resolutions do not prohibit oil and gas ventures with Iran.

OMV and National Iranian Oil Company (NIOC) announced a deal on Saturday that includes the development of some sectors of Iran’s gas fields, a gas liquefaction plant and purchasing contracts for liquefied natural gas (LNG). At present OMV is involved in an offshore oil project in Iran.

According to Iranian reports, the deal would be worth 30 billion dollars over the next 25 years.

Support for OMV has come from Austria’s government. Foreign Minister Ursula Plassnik stressed on Monday that "no general economic boycott" existed against Iran.

"I see this deal also in light of energy security, that is an issue for all of us," she said on the sidelines of the EU foreign ministers’ meeting in Luxembourg. OMV would "of course" carefully examine all aspects of the deal with respect to the existing regulations, Plassnik said.

Ruttensdorfer did not explain whether the United States had already contacted OMV on the issue, the Austrian press agency reported.