Russian Major Ready to Invest in Iranian Gas

Russia’s gas giant Gazprom is ready to invest in Iran’s gas exploration and production projects, a senior official of the company said.

“Gazprom’s cooperation with Iran will be mostly in exploration and production sectors," IRNA news agency quoted the official who wanted not to be named. "We are hoping to transfer new technologies to Iran in this field."

He continued, "Although Iran could be a rival for Russia in the gas sector in the future, this issue will not hinder us from cooperating with Iran.”

Gazprom is willing to cooperate with Iran after the sanctions imposed on the country have been lifted. This cooperation will be beneficial for both sides, the official said.

Gazprom may also take part in liquefied natural gas projects in Iran once sanctions against Tehran are lifted, Gazprom's deputy Chief Executive Officer Alexander Medvedev said in June.

"Gazprom does not rule out its participation in these projects under certain conditions," Reuters quoted Mr. Medvedev as saying.

"The sanctions should be lifted first."