Iran, Russia to boost gas cooperation

Iran and Russia plan to enhance cooperation in the gas industry, managing director of the National Iranian Gas Company (NIGC), Hamidreza Araqi said.

“Establishment of a joint working group comprising National Iranian Gas Company (NIGC) and Russia’s Gazprom has been put on the agenda with the aim of expanding ties and cooperation,” Araqi said.

Supply of equipment, transfer of technology, participation in oil and gas projects in the form of finance and preparation of working plans for foreign investment are among the new NIGC-Gazprom cooperation strategies.

Iran and Russia share common interests as the world’s gas giants and plan to increase their share of the international market, and as such, the two sides have agreed on the new cooperation plan, according to Araqi.