Moscow: Iran will sign a $40 billion deal with Russian energy giant Gazprom in December, said Iranian Deputy Foreign Minister Mahdi Safari, according to media reports.
“We have signed a $6.5 billion contract with Gazprom. We hope the remaining contracts for a total of $40 billion will be signed next month,” Safari told ISNA news agency, adding that negotiations are underway. added.
The state-owned Iranian Oil Company and Gazprom agreed in July to work together to develop two gas deposits and six oil fields in Iran. The document also includes natural gas and petroleum product swaps, implementation of LNG projects, and construction of gas pipelines.
In early October, Russian Deputy Prime Minister Alexander Novak announced that Moscow and Tehran could agree to a 5 million tonnes of oil and 10 billion cubic meters of gas swap to be completed by the end of the year, RT said. reported.
Novak said Russia and Iran had already begun swap deliveries of energy resources, especially petroleum products, and had agreed to expand the list of trade goods. He also said, “Russian investment in Iranian oil fields will increase.”
The progress comes as Russia and Iran rapidly expand their energy and trade ties amid Western sanctions imposed on them. Barter trading helps countries avoid the resolution problems presented by the Western financial system. They also enjoy direct trade via the Caspian Sea, he reported RT.
Iran’s Oil Minister Javad Ouji said at a bilateral forum that the public and private sectors of both countries were aiming to “neutralize the sanctions”.