February 1, 2023

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Swap Gas Supplies Between Iran, Russia May Start by Year-End, Deputy Oil Minister Says

In July, Russian energy giant Gazprom and the National Iranian Oil Company (NIOC) signed a memorandum of understanding on strategic cooperation worth $40 billion. As part of the deal, the companies pledged to explore the possibility of interaction on the development of Iranian fields, the implementation of liquefied natural gas (LNG) projects and the construction of gas pipelines. Iran soon announced its plans to buy 9 million cubic meters of Russia gas, which will be delivered through the territory of Azerbaijan.The parties also agreed on supplies of 6 million cubic meters of gas per day to Iran for further swap deliveries in the form of LNG to other states south of the country. The supplies are likely to be carried out trough Turkmenistan, with which Tehran has been actively increasing gas cooperation in recent months.In October, Russian Deputy Prime Minister Alexander Novak said the agreement on swap supplies with Iran could cover 5 million tonnes of oil and up to 10 billion cubic meters of gas per year at its first stage.Original News : https://sputniknews.com/20221014/swap-gas-supplies-between-iran-russia-may-start-by-year-end-deputy-oil-minister-says-1101834082.html

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