Russneft Delegation in Iran to Discuss Oil, Gas Swap

A delegation from the major Russian energy company Russneft met officials from Iranian oil ministry in Tehran on Wednesday to discuss oil and gas swap, according to state owned Shana News.

A joint committee has been set up to continue the talks between the two sides, ministry sources told Shana.

Iran had proposed to swap oil and gas with Russia during Russian energy minister Alexander Novak’s visit to Tehran last month. 

According to the proposal, Iran would receive natural gas, oil and oil products from Russia through its northern terminals and will sell equivalent volumes of the same products to Russia’s clients through its southern terminals, Press TV reported last month. 

Speaking to reporters following the meeting, Iranian oil minister Bijan Zangeneh said it was decided that Russian oil and gas companies will take part in the Iran Petroleum Contract conference to be held in Tehran on November 28-29.