March 02
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The swap agreement on gas and oil supplies between Iran and Russia will turn Iran into a regional energy center, Iranian Oil Minister Javad Ouji stated, Mehr reports.

He spoke about joint investments in the production of LNG (liquefied natural gas) and technologies related to gas equipment with "Gazprom". He said that following the talks with "Gazprom" and other companies the total amount of signed memorandums of understanding reached $40 billion.

He said Moscow and Tehran are cooperating in developing the North Pars, Kish and South Pars fields, adding that "we have signed memorandums of understanding on gas exports to Pakistan and Oman as well as on the construction of an export pipeline to two neighboring countries, which will be jointly implemented by Iran and Russia."

He called Iran's cooperation with the Caspian states in the field of oil, gas and energy "strategic" and expressed hope that an agreement to exchange 15 billion cubic meters of gas would be concluded within a few weeks.

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