The National Iranian Gas Company (NIGC) and Russian company, Gazprom have set up a joint working committee to explore cooperation venues.
Constructing gas projects, supplying equipment, transferring technology, and preparing investment packages are areas where the two companies could collaborate. Iran is to export compressed natural gas (CNG) technology and engineering services to Russia to further the collaboration between the two countries in the gas sector.
“On account of Iran’s capability in the CNG industry, it can export CNG equipment, technology, and engineering services to Russia,” Hamidreza Araghi managing director of NIGC was quoted by Mehr news agency as saying. There are additional plans for NIGC and Gazprom to team up to finance oil and gas projects. Gazprom has recently expressed readiness to cooperate in several gas projects in Iran. “The scope of this cooperation is being negotiated in the joint working committee,” Araghi said.
Iran has expressed interest in natural gas storage projects with the major oil and gas producer. The NIGC and Gazprom are both members of Gas Exporting Countries Forum (GECF) and International Gas Union (IGU). Gazprom holds the world’s largest natural gas reserves. The Russian government currently holds a majority stake in the company.
