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Iran Says Gas Deal with Russian Involves 300 Mcm/d

NATGAS

Iranian Oil Minister Javad Owji said that natural gas will be shipped from Russia to Iran via an offshore pipeline as part of strategic agreement with Moscow, Bloomberg said.

  • Owji did not give a timeframe for the plans and is an outgoing minister who will be replaced within the next month.
  • The pipeline will act as a transit route for Russian gas supplies and will stabilise gas supply in Iran.
  • Russia has been trying to find alternative outlets for its natural gas as it finds itself increasingly cut off from the European market.
  • Iran may prove a ‘quick win’ for some of that lost demand, especially as projects to boost flows to China via the Power of Siberia 2 pipeline concept remain held up in negotiations.

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