Gazprom to Draw on Iran’s Sanctions Experience

Gazprom to Draw on Iran’s Sanctions ExperienceGazprom to Draw on Iran’s Sanctions Experience

Gazprom representative, Sergie Lasvetenko, expressed his company’s readiness to cooperate in South Pars development plans. Speaking at the 20th International Oil, Gas, Refining and Petrochemicals Exhibition of Tehran, he said Russia will draw on “Iran’s experience with oil sanctions, “ Mehr news agency reported.

Noting that Russia is now under western sanctions over the conflict in Ukraine, Lasvetenko reiterated, “Iran has first-hand experience in dealing with economic sanctions which can be valuable for our country in the current situation. Russia is in the process of analyzing the Iranian market, but areas of mutual interest ought to be further explored.”

Underlining the fact that the time is ripe to expand cooperation, the representative of the Russian oil giant added, “Iran and Russia have the largest oil and gas reserves in the world in addition to practical experience in producing not only oil but other hydrocarbons. Hence, given the similar political and economic conditions, I believe we enjoy the same perspectives, and two-way coordination can help produce the desired results.”

He said for now his company is not working on any big projects, however, “Iran has taken effective steps toward self-reliance in manufacturing oil and gas equipment due to the sanctions. Gazprom can benefit from such experience.”

On the other hand, he noted,” Gazprom has the technical know-how in both laying pipelines, drilling and building platforms, which can be shared with Iran.”

Referring to the tough competition between American and European companies for the emerging lucrative oil market in Iran, Lasvetenko opined, “Iran has more commonality with Russia than the US as a result of which their collaboration will produce better results.

Tehran is under punitive economic sanctions because of its nuclear program. After talks in Lausanne, Switzerland, in April, Iran and the P5+1 (Britain, China, France, Russia, the US plus Germany) reached a framework agreement that, among other things, calls for the lifting of all economic and banking sanctions against Iran.

The details of the agreement are to be finalized by a June 30 deadline.