Iran and Russia's Gazprom sign deal for energy cooperation
(VOVWORLD) - The National Iranian Oil Company (NIOC) and Russian gas producer Gazprom signed a memorandum of understanding Tuesday worth around 40 billion USD.
 An oil facility on Khark Island, Iran (Photo: AFP/ VNA) |
The deal was signed at an online ceremony by the CEOs of both companies on the day Russian President Vladimir Putin arrived in Tehran for a summit with his Iranian and Turkish counterparts.
Gazprom will help NIOC develop the Kish and North Pars gas fields and also six oil fields, according to SHANA News Agency.
Gazprom will also be involved in the completion of liquefied natural gas (LNG) projects and the construction of gas export pipelines. Iran sits on the world’s second-largest gas reserves after Russia, but US sanctions have hindered access to technology and slowed gas exports.