Iran and Russia sign strategic partnership deal for gas

Iran’s oil minister says in the previous quarter, the Iranian National Gas Company held negotiations with Russia’s Gazprom, and the two sides signed a memorandum of understanding for the transfer of Russian gas to Iran.

Javad Owji added that this happened thanks to efforts by late President Ebrahim Raisi who pursued the issue in his repeated meetings with Russian President Vladimir Putin.

While noting that Iran and Russia sit on more than 60% of the world’s gas reserves, Owji described the agreement with Russia as a big step.

He also said this will undoubtedly result in positive developments in the energy balance in the region with Iran being fully ready to receive this amount of gas given that the Islamic Republic has the necessary infrastructure and gas transmission lines for this purpose.

The Iranian oil minister stressed the MoU will shortly become a contract, which will be a huge development for both Iran and Russia.