ISSN 2330-717X

Iran Expects To Finalize $40 Billion Agreement With Russia’s Gazprom In December

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The Iranian deputy foreign minister for economic diplomacy, Mahdi Safari, stated on Wednesday that the Islamic Republic anticipates finalizing $40 billion in deals with Russian energy giant Gazprom in December as the talks on the energy accord are ongoing. 

“We have concluded an agreement worth about $6.5 billion with Gazprom. We hope that the remaining agreements totaling to $40 billion will be signed next month. The negotiations are currently ongoing,” Safari was quoted as saying by the ISNA news agency.

Alexander Novak, the deputy prime minister of Russia, announced on Tuesday that his country and Iran had begun exchanging supplies of energy resources, particularly petroleum products, and that they had also decided to broaden the scope of their trade.

A $40 billion strategic partnership memorandum was reportedly inked in July by Gazprom and the National Iranian Oil Company. In order to develop multiple Iranian oil and gas fields, as well as to carry out liquefied natural gas projects and build gas pipelines, the firms decided to investigate the prospect of working together. Soon after, Iran declared its intention to purchase 9 million cubic metres of Russian gas, which is expected to be transited via Republic of Azerbaijani territory.

Tasnim News Agency

Tasnim News Agency is a private news agency in Iran launched in 2012. Its purpose is to cover a variety of political, social, economic and international subjects along with other fields

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