Iran, Russia to Set Up Joint Gas Committee

Two of world’s biggest holders of natural gas, Iran and Russia have decided to enhance cooperation in the sector, says a report by Iran’s Press TV.

As per the report, Managing-Director of National Iranian Gas Company (NIOC), Hamid-Reza Araqi said Monday that NIOC and Russian gas giant Gazprom are scheduled to set up a joint committee to explore ways to give a boost to bilateral and international cooperation.

“Establishment of a joint committee comprising National Iranian Gas Company (NIGC) and Russia’s Gazprom has been put on the agenda with the aim of expanding ties and cooperation,” Araqi said.

Provision of equipment, transfer of technology, participation in oil and gas projects in the form of finance and preparation of working plans for foreign investment are among the new NIGC-Gazprom cooperation strategies, Araqi commented, reports Press TV.

According to a report by BP, Iran holds 33.8 trillion cubic meters (tcm) of natural gas reserves, world’s largest.