The National Oil Company of Iran (NIOC) and Russia’s Gazprom signed a memorandum of strategic cooperation in Tehran, the Iranian news agency Tasnim reported, quoting NIOC executive director Mohsen Khojastemer, writes dir.bg.
He stated that the Iranian company and Gazprom will work together to develop the North Pars gas field and the Kish Island gas field. The Russian side will invest 10 billion dollars in the project.
Hojastemer announced that the agreement would result in the largest foreign investment in the history of Iran’s oil industry.
He added that the development of the Kish gas field and the development of the North Pars gas field with an investment of 10 billion Russian dollars will add 100 million cubic meters per day to the country’s gas production.
Russian President Vladimir Putin is heading to Iran for a summit with his Iranian and Turkish counterparts on the Syrian conflict.
The three countries are cooperating to reduce violence in Syria, despite being on different sides of the conflict. Russia and Iran are the biggest backers of Syrian President Bashar al-Assad, while Turkey backs the rebels.
It is the Russian leader’s first visit outside the former Soviet Union since Moscow invaded Ukraine.
The looming danger of the formation of an Israeli-Arab bloc in the Middle East under the auspices of the United States could change the balance of power in the Middle East to the detriment of Iran. This led the ayatollahs in Iran to strengthen Tehran’s strategic relationship with the Kremlin. “Given the dynamics in geopolitical relations since the outbreak of the war in Ukraine, the ruling elite in Iran is trying to secure the support of Moscow in its confrontation with Washington and regional allies of the United States,” a senior Iranian official told Reuters on condition of anonymity.
In a clear signal to the West that Russia is keen to deepen bilateral relations with anti-Western Iran, Putin will meet with the most powerful figure in the Islamic Republic, Supreme Leader Ayatollah Ali Khamenei, just days after US President Joe Biden visited Israel and Saudi Arabia.
Putin’s visit to Tehran is being watched closely as Russia’s invasion of Ukraine has changed the situation in international oil markets, but also in view of Washington’s warning to Iran to abandon its intention to supply Russia with several hundred drones. Tehran has denied selling drones to Moscow for use in Ukraine.
Buoyed by high oil prices due to the conflict in Ukraine, Tehran is also betting that, with Russia’s support, it will be able to force the US to make concessions on the issue of resuming the 2015 nuclear deal.
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