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News // Oil and gas worldwide

Gazprom Is Likely To Take Part in Iran's South Pars Project

16 March 2009 , 13:49Ksenia Kochneva821
The news was announced by Russia's Energy Minister Sergei Shmatko.

This perspective was marked in a memorandum of understanding on oil and gas, signed by Shmatko and his Iranian counterpart Qolam Hosein Nozari in Vienna, where OPEC met to discuss further oil production cuts.

New capacity to liquefy gas is eyed as one of the stages of the South Pars development. Apart from that, under the deal, Gazprom may ship Turkmen gas to the north of Iran in exchange for supplies from Iran's south fields to the Persian Gulf.

In a separate move, the two nations will sign an intergovernmental agreement on further cooperation in the near future, The Voice of Russia radio broadcasting company said.

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