Organizational framework established for further Russian-Iranian cooperation in gas sector

RELEASE

A number of documents were signed in Tehran on the margins of the visit to the Islamic Republic of Iran by Russian President Vladimir Putin. The documents are aimed at fostering Russian-Iranian cooperation in the gas sector.

Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Amir Hossein Zamaninia, Iran’s Deputy Minister of Petroleum, signed a Memorandum of Understanding for strategic cooperation.

In accordance with the document, the parties will look into the prospects of joining efforts in developing Iranian gas fields with subsequent gas transportation and monetization, including through liquefaction and petrochemical production.

Gazprom and National Iranian Oil Company (NIOC) inked a Memorandum of Understanding to collaborate on the construction project for the Iran – Pakistan – India gas pipeline.

The Memorandum is based on the Memorandum of Understanding signed by the Russian Energy Ministry and the Iranian Petroleum Ministry as part of the state support for the pipeline construction project.

Thanks to the Memorandum, Gazprom and NIOC will, inter alia, start developing a feasibility study for the design, construction and operation of the Iran – Pakistan – India gas pipeline.

In addition, Vitaly Markelov and Mansour Moazami, Chairman of the Executive Board of Industrial Development & Renovation Organization of Iran, today signed a Memorandum of Understanding.

The document reflects the intent of the parties to explore the possibilities of joint gas liquefaction projects slated to be implemented in third countries, as well as projects in the field of advanced gas processing and petrochemistry in the territory of Iran.

Gazprom and NIOC also inked a Memorandum of Understanding, pursuant to which the two companies will develop a concept for a unified system of gas production, transmission and petrochemistry based in Iran.

“Today, we took a major step forward in Russian-Iranian cooperation in the gas sector. We signed a number of important documents, including the Memorandum for strategic cooperation between Gazprom and Iran’s Petroleum Ministry. As a result, we established the organizational framework for further bilateral cooperation in a range of promising fields,” said Vitaly Markelov.

Background

National Iranian Oil Company (NIOC), a wholly-owned subsidiary of Iran’s Ministry of Petroleum, is focused on geological exploration, production, transportation and exports of crude oil, as well as geological exploration and production of natural gas.

Industrial Development & Renovation Organization of Iran is a state-owned subsidiary of Iran’s Ministry of Industry, Mine & Trade and one of the largest industrial companies in Iran.

On March 28, 2017, Gazprom and NIOC signed the Memorandum of Understanding to examine the avenues for cooperation in the field of hydrocarbon prospecting, exploration and production within Iran.

On November 1, 2017, the Russian Energy Ministry and the Iranian Petroleum Ministry inked the Memorandum of Understanding to cooperate on the construction project for the Iran – Pakistan – India offshore gas pipeline.

 

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