Gazprom Signs Memorandum of Understanding with Iran

The Iranian agency Shana reported on a $40 billion deal between Russia and Iran. The planned projects include the development of two gas fields and six oil fields. Russian concern Gazprom and National Iranian Oil Company (NIOC) signed a Memorandum of Understanding. The projects are worth about $40 billion, Shana news agency reported Tuesday, July 19. The deal was done in an online ceremony attended by Vitaly Markelov, deputy chairman of Gazprom, and Mohsen Khojastemehr, head of NIOC, it was reported. Planned projects include the development of the Kish and North Pars gas fields, increasing the pressure at the South Pars field, the development of six oil fields, the completion of liquefied natural gas (LNG) projects and the construction of gas export pipelines. On the same day, Russian President Vladimir Putin arrived in Tehran to meet with Iranian and Turkish leaders. DW