Gazprom pens cooperation deal with Iran’s NIOC

Russia’s Gazprom and Iranian state-owned NIOC have reportedly signed a cooperation deal which includes LNG projects in Iran.

According to a report by the Iranian oil ministry’s news agency Shana, NIOC and Gazprom signed a memorandum of understanding worth roughly $40 billion during an online ceremony on Tuesday.

Under the deal, Gazprom would help in the development of Kish and North Pars gas fields, pressure enhancement of South Pars field and the development of six oil fields, the report said.

In addition, Gazprom would work with NIOC on the completion of LNG projects, construction of gas export pipelines, and other scientific and technological cooperation, Shana said.

Gazprom confirmed the signing of the memorandum in a statement on Tuesday.

The company said the partners would cooperate on the development of Iranian oil and gas fields, performance of swap transactions with natural gas and petroleum products, implementation of large-scale and small-scale LNG projects, construction of gas trunklines, and sci-tech and technology cooperation.

Iran shares the huge South Pars/North Dome field with Qatar, one of the world’s largest LNG exporters.

However, US sanctions have slowed development of gas and LNG exports in Iran.

Iran LNG, in which NIOC is a shareholder, started building a 10.8 mtpa LNG plant in Tombak back in 2007, but it has not completed the facility. There have been no updates regarding this development for years.

Earlier this year, Shana also reported that state-run National Iranian Tanker Company (NITC) planned to order the country’s first LNG-powered Aframax tanker

NITC is a unit of NIOC and operates a fleet of very large crude carriers, Suezmax, and Aframax tankers.

(Article updated to include a statement by Gazprom.)

- Advertisements -

Most Popular

US to increase LNG supplies to UK under new deal

The US will boost supplies of liquefied natural gas (LNG) to UK terminals under a new deal revealed on...

Adani, TotalEnergies nearing completion of Dhamra LNG terminal in India

India's Adani and France's TotalEnergies have almost completed their Dhamra LNG import facility located in Odisha, on India’s east...

Trinidad, Shell, BP move forward with Atlantic LNG restructuring plans

Trinidad and Tobago has signed a restructuring deal with the shareholders of LNG producer Atlantic LNG, including Shell and...

More News Like This

Gazprom supplying gas from Kaliningrad FSRU

Gas giant Gazprom has completed tests at its 174,000-cbm FSRU Marshal Vasilevskiy off Russia's Kaliningrad, located between Lithuania and Poland. The firm said...

First cargo from Gazprom’s Portovaya LNG terminal to land in Greece

DESFA’s Revithoussa liquefied natural gas import facility in Greece is preparing to receive the first cargo produced at Gazprom's...

Gazprom, Sovcomflot in first Russian LNG bunkering op

Russia’s shipping firm Sovcomflot and Gazprom Neft, a unit of gas giant Gazprom, have completed what they say is...

Gazprom plans to expand Portovaya LNG terminal

Russia's Gazprom is planning to add another liquefaction train at its recently launched Portovaya LNG production, storage, and shipment...