Politico: The Coming Russia-Iran Energy Axis

As a key negotiator in the landmark nuclear deal with Iran, Russia may have helped to reawaken a powerful competitor for gas exports — unless Russian energy majors get there first.

Once sanctions against Iran are lifted, possibly by the end of this year, the country will need experienced international companies to invest billions of dollars in upgrading and expanding its energy infrastructure. While Iranian oil exports could hit the market within weeks of the sanctions ending, it will take years to develop its gas reserves and ready them for exports, analysts say.

Iran’s reopening presents Russian companies such as Gazprom and Lukoil, which have been there before, with the chance to put money into potentially lucrative new projects, including oil and gas production, pipelines, petrochemicals, nuclear energy, and, eventually, even liquefied natural gas (LNG) exports.

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