Iran General NewsIran, Russia's Gazprom to boost energy ties-report

Iran, Russia’s Gazprom to boost energy ties-report

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Reuters: Iran and Russia’s gas export monopoly Gazprom plan to boost energy cooperation, Iran’s Oil Minister Gholamhossein Nozari was quoted as saying on Monday. TEHRAN, Jan 14 (Reuters) – Iran and Russia’s gas export monopoly Gazprom plan to boost energy cooperation, Iran’s Oil Minister Gholamhossein Nozari was quoted as saying on Monday.

Nozari said Gazprom would offer a proposal by mid-March to participate in developing Iran’s oil and gas fields, the students news agency ISNA reported.

“We had serious discussions with Gazprom officials. We agreed to receive their offer by mid-March,” Nozari said.

“Gazprom is interested in development of Iran’s oil and gas fields, exploration activities and also pipeline projects.”

Iran sits on the world’s second-largest gas reserves after Russia. But sanctions, politics and construction delays have slowed its gas development, and analysts say the country is unlikely to become a major exporter for years.

Economists have said many foreign firms, particularly Western companies, are increasingly wary of investing in the Islamic Republic after the U.N. imposed two rounds of sanctions on the country over its nuclear row.

But Iran’s large oil and gas reserves still make it a magnet for international energy firms, particularly firms from Russia, India, China and other Asian countries.

Nozari said Iranian and Gazprom officials met on the sidelines of the Caspian Summit in October, when the Caspian Sea states’ leaders gathered in Tehran to discuss differences about exploiting the Caspian’s oil and gas resources. (Writing by Parisa Hafezi; editing by James Jukwey)

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