ShreeMetalPrices: Iran announces $6.5 billion in gas deals with Russia.


A Minister revealed that Russia and Iran have agreed contracts worth approximately $6.5 billion regarding collaboration in the gas sector. According to Mehdi Safari, deputy foreign minister for economic diplomacy. The recently concluded agreements are components of the $40 billion memorandum of understanding (MoU) that sign here between National Iranian Oil Company (NIOC) & Russia’s Gazprom (MCX:GAZP) in July.

Safari has been state that this by the Xinhua news agency on Monday.

Safari added that talks are currently taking place in this area and expressed the expectation. That the remaining components of the MoU will also become contracts within a month.

The only thing left to decide is which country would act. As an intermediary in delivering Russian gas to Iran, he said, adding that the gas swap agreement between Russia and Iran is also being conclude.

Adding that it assists his nation by lowering the price of conveying Iranian gas from southern areas to the north. The Minister stated that Iran’s objective is to acquire Russian gas and exporting Iranian gas to global markets.

According to Safari, the combined project will also assist strengthen political ties between Iran, Russia, and the intermediary nations of Turkmenistan and Azerbaijan, thereby fostering the region’s economic stability, security, and peace.

He stated that a deal for the exchange of oil & petroleum goods. Which has been discussed in October during Oil Minister Javad Owji’s visit to Russia. Would also be finales in the near future between the two nations.

According to Safari, the two nations are emphasizing on a 10-million-tonne annual target for the oil exchange negotiations.