Russia, Iran sign MoU to boost gas cooperation

Iran and Russia on Wednesday signed a memorandum of understanding (MoU) on transferring natural gas from Moscow to Tehran, reported Xinhua, quoting Shana News Agency affiliated with the Iranian Oil Ministry.

The MoU was signed between the National Iranian Gas Company (NIGC) and Russian energy giant Gazprom in Iran's capital Tehran in the presence of Iran's Interim President Mohammad Mokhber and Gazprom's CEO Alexei Miller, the report said.

Upon reaching a contract under the MoU, Iran would start purchasing gas from Russia and then export it to Iraq, Türkiye, and Pakistan at a higher price, according to Iran's official news agency IRNA.

At a meeting with Miller before the signing ceremony, Mokhber said the deal is "strategic" and of great importance to both countries and the region, according to a statement published on the website of the Iranian president's office.

He stressed that the gas cooperation between the two sides would lead to the conclusion of larger-scale MoUs and contracts.

Mokhber added that with the agreement, Iran would turn into a regional "gas hub" and "a new chapter" would be opened in the region and international relations.

The Russian energy firm's head, for his part, described the signing of the MoU as a "major and important" move, which would produce "brilliant" results in the region.

He added that Russian President Vladimir Putin had actively been pursuing the signing of the MoU, stressing that his company and its subsidiaries were committed to turning the MoU into a contract, which would be implemented at the earliest time possible.

In his televised remarks, Iranian Oil Minister Javad Owji said the signing of the agreement would definitely lead to "effective and good developments" regarding the energy balance in the region.

According to Owji, the MoU was signed after three months of negotiations between the NIGC and Gazprom.