BAKU, Azerbaijan, February 19. Iran has
finalized the framework of its gas import agreement with Russia,
Saeed Tavakoli, Deputy Minister of Petroleum and CEO of the
National Iranian Gas Company (NIGC), told reporters, Trend reports.


Tavakoli stated that all technical aspects under the memorandum
of understanding between Iran and Russia have been completed.


According to him, only two issues remain unresolved: the price
of the gas to be imported from Russia and Iran’s payment
mechanism.


“A decision on these two matters must be made at a high level
within the country,” he stated.


The company official noted that numerous negotiations on the
contract’s details and technical issues were held during the latest
session of the Iran-Russia Joint Economic Commission.


Tavakoli added that the Iranian Oil Ministry prioritizes
ensuring full gas supply to households and commercial facilities
during the colder months of the year. As a result, gas shortages
sometimes occur at certain factories and power plants.


“However, if Iran imports gas from Russia under this contract,
the gas in question will be directed to production facilities,” he
said.







The deputy minister also addressed the issue of importing gas
from the northern direction, noting that most of Iran’s gas
reserves are located in the south and coastal areas. Imports from
northern neighboring countries could help balance the national gas
network, reduce transmission pressure, and improve consumption
management.


If a final agreement is reached, Iran plans in the initial phase
to import up to 55 billion cubic meters of gas annually from
Russia.


On June 26, 2024, a document on the transportation of Russian
gas to Iran was signed between Majid Chegeni, Chief Executive
Officer of NIGC, and Alexei Miller, Chief Executive Officer of
Gazprom.


Iran holds approximately 34 trillion cubic meters of gas
reserves, ranking second globally in terms of proven reserves. The
country currently operates 22 gas fields and produces about 1.07
billion cubic meters of rich gas per day.


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