Thursday, 24 September, 2020

Russian gas giant signs deal to tap into Iran’s gas deposits

Russia’s major gas corporation Gazprom and the National Iranian Oil Company (NIOC) signed two Memoranda of Understanding (MoU) in Tehran to jointly tap into Iran’s gas deposits, daily Financial Tribune reported on Saturday.

The first agreement, described as a “gas collaboration roadmap,” was signed by Gazprom CEO Alexei Miller and the NIOC chief Ali Kardor, the report said.

The second MoU, aimed at completing Iran’s largest liquefied natural gas project known as “Iran LNG,” was concluded by Miller and Nosrat Rahimi, head of the board of directors at the Oil Industry Pension Funds.

According to the agreements, Gazprom will provide the NIOC with the results of its technical surveys and development plans for three Iranian offshore gas fields in the Persian Gulf, by April 2018.

The two sides held constructive talks and planned to take major steps to collaborate in gas ventures, Miller said, calling the deal as “important.”

“Playing an active role in such development projects will give Gazprom a strong foothold in Iran’s gas industry,” he said, adding that his company will deliver its master development plan as soon as possible.

According to the Gazprom chief, Russia and Iran, with the largest natural gas reserves, can expand cooperation in a wide range of areas, including gas trade, R&D and implementation of joint projects.


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