Russia’s Gazprom said it has signed an agreement with Iran’s state oil firm that will see it help develop oil and gas projects in Iran, including the Iran-Pakistan-India gas pipeline.
Gazprom and National Iranian Oil Company will “look into the prospects of joining efforts in developing Iranian gas fields with subsequent gas transportation and monetisation, including through liquefaction and petrochemical production,” the Russian firm said in a statement about a memorandum of understanding signed between the two entities during President Vladimir Putin’s visit to Tehran.
Following on from the agreement, the companies will start developing a feasibility study for the design, construction and operation of the Iran-Pakistan-India gas pipeline, among other things.
This is part of an agreement signed by the Russian Energy Ministry and the Iranian Petroleum Ministry as part of the state support for the pipeline construction project.
In a separate agreement between Gazprom and Mansour Moazami, chairman of the executive board of Industrial Development & Renovation Organization of Iran, the parties will study a joint gas liquefaction project, as well as advanced gas processing and petrochemistry in Iran.
Gazprom and NIOC will also develop a concept for a unified system of gas production, transmission and petrochemistry based in Iran, the Russian gas giant said.
“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 organisational framework for further bilateral cooperation in a range of promising fields,” said Vitaly Markelov, deputy chairman of the Gazprom management committee.
Iran and Russia signed a total of six MoUs during Putin’s visit last week, according to an earlier report.