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Gazprom Interested in Developing Four Gas Fields in Iran

Source: Bloomberg 1/30/2018, Location: Asia

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Russian state-owned giant Gazprom is interested in developing four fields in Iran. The company is expected to submit official applications to participate in the projects by the end of March, revealed the Iranian oil minister, Bijan Namdar Zangeneh.

“Iran has signed a Memorandum of Understanding with Gazprom for gas exploration projects at Farzad A, Farzad B, North Pars and Kish fields and the Russian company has expressed its willingness to develop them”, said Bijan Namdar Zangeneh.

In mid-December, Gazprom’s managing director Alexei Miller was on a visit to Iran, where were negotiated the gas projects and further investment. The two sides then agreed on extensive cooperation in various fields, including gas extraction and processing, as well as projects in the liquefied gas sector.

Under the “Iran LNG” project are envisaged two liquefied gas technology lines with a capacity of 5.25 million tonnes per year. It is planned to increase the capacity of the facilities to 21 million tons per year. Iran LNG is under development at Tombak Port, approximately 50 km north of Assaluyeh Port and 15 km southeast of Kangan.

Gazprom is a large Russian company founded in 1989, which carries on the business of extraction, production, transport, and sale of natural gas. The company is majority owned by the Government of Russia, though technically private.

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