Pezeshkian, Putin agree to speed up implementation of oil and gas projects

Iranian President Masoud Pezeshkian said he and Russian leader Vladimir Putin agreed at a meeting in Ashgabat to give an additional boost to the implementation of joint projects in the oil, gas, and energy sectors, Report informs via TASS.

"We held talks with the Russian President. They lasted about an hour. We discussed once again the agreements and contracts that we have signed with Russia. We have a constructive interaction. We agreed to speed up the implementation of projects in the field of gas, road and railway [construction], water desalination, and other projects in the field of energy, petrochemicals, and electricity supply," Pezeshkian’s press service released a video of his speech.

Tehran will be able to "significantly reduce the negative impact of sanctions" by fulfilling all the Islamic Republic's agreements with its neighbors, the Iranian politician added. The talks between Putin and Pezeshkian took place on the sidelines of the international forum "Interrelation of Times and Civilizations - the Basis of Peace and Development."

On June 26, Gazprom and the National Iranian Gas Company signed a strategic memorandum on the development of the organization of Russian gas supplies to Iran. The Iranian side noted that about 300 million cubic meters of gas will be delivered daily from Russia to Iran via the Caspian Sea. According to the terms of the agreement, Iran will be able to sell the surplus of imported gas to other countries. The agreement will run for 30 years and will bring Iran around $10-12 billion a year.

Russian Deputy Prime Minister Alexander Novak previously reported that Moscow and Tehran were discussing the creation of an energy hub with the participation of Qatar and Turkmenistan, as well as swap deliveries to northern Iran and the possibility of creating an electronic gas trading platform in the south of the Islamic Republic. In the autumn of 2023, then-Iranian Oil Minister Javad Owji reported that Tehran had identified joint projects with Gazprom worth $40 billion.