Minister: Gas supply deal with Russia ‘masterpiece’ in Iran’s energy diplomacy
Iranian oil minister has praised the signing of a memorandum of understanding (MoU) between Tehran and Moscow on the supply of Russian gas to Iran as a “masterpiece” in the energy diplomacy of the outgoing administration headed by late President Ebrahim Raeisi.
“One could definitely refer to the signing of the agreement on the transfer of the Russian gas to the Islamic Republic as the masterpiece of the 13th [Iranian] administration concerning energy diplomacy,” Javad Owji said on the sidelines of the Iranian administration's weekly cabinet meeting in the capital Tehran on Wednesday.
He noted that the deal will result in an economic and industrial revolution, which will push the West Asia region and neighboring countries to rely on Iran for their energy security.
On June 26, a memorandum of understanding on Russian gas transfer to Iran was signed during a ceremony attended by the Iranian oil minister and the special envoy of the Russian Federation and CEO of Russia’s energy giant Gazprom, Alexey Miller.
Upon turning into a contract and potential implementation, the agreement will reportedly enable Iran to import gas from Russia and supply it to Iraq, Turkey, and Pakistan.
"The signing of the MoU on Russian gas transfer is a big accomplishment and would lead to good developments on the issue of balance of energy (trade). We hope this MoU could be turned into a contract in a very short period of time,” Owji said at the time.
He insisted that the MoU makes Iran a gas supply hub in the region, adding that the agreement sets up a framework for gas exports from Russia to Iran.
Russia has been facing an oversupply of natural gas since early 2022 when its exports to Europe came under sanctions because of the war in Ukraine.
Iran is the second largest gas producer in the world after Russia and has its own exports via pipelines to Turkey and Iraq.
Iran’s Interim President Mohamad Mokhber has lauded the Iran-Russia energy agreement, saying it would help boost bilateral ties and serve the interests of the two sides and the region.
“(Potential) implementation of the plan for transfer of Russia’s gas to Iran would serve not only the two countries’ economic interests, but also those of the entire region,” Mokhber told Russian President Vladimir Putin in a telephone conversation then.
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