Russian giant Gazprom signed a memorandum of understanding with the National Iranian Oil Company, to cooperate in the field of hydrocarbon prospecting, exploration and production within Iran.
National Iranian Oil Company, a unit 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.
The agreement was signed during the meeting between the Russian president Vladimir Putin and his Iranian counterpart, Hassan Rouhani.
The two presidents discussed prospects for expanding trade, economic and investment ties, including in the context of implementing major joint projects in energy and transport infrastructure, according to a joint statement.
Gazprom’s agreement with NIOC follows a similar deal signed with the Iranian National Gas Company from December last year.
Iran, a country that shares the giant Sourh Pars gas field with Qatar has been looking to secure a larger share in the international gas market since the sanctions have been lifted in January last year.
The country has been looking into options for delivering its gas reserves to the international market, either by building an LNG facility or through the utilization of LNG plants abroad.
LNG World News Staff