Iran Expects To Sign $40Bln Deal With Russia's Gazprom In December - Senior Diplomat

MOSCOW (UrduPoint News / Sputnik - 02nd November, 2022) Iran is expecting to sign agreements worth $40 billion with Russian energy giant Gazprom in December as the negotiations on the energy deal are underway, Iranian Deputy Foreign Minister for Economic Diplomacy Mahdi Safari said on Wednesday.

"We have concluded an agreement worth about $6.5 billion with Gazprom. We hope that the remaining agreements totaling to $40 billion will be signed next month. The negotiations are currently ongoing," Safari was quoted as saying by the ISNA news agency.

Russian Deputy Prime Minister Alexander Novak said on Tuesday that Russia and Iran started swap deliveries of energy resources, in particular petroleum products, and agreed to expand the list of traded goods.

In July, Gazprom and the National Iranian Oil Company signed a memorandum of understanding on strategic cooperation, reportedly worth $40 billion. The companies agreed to explore the possibility of cooperation on the development of several Iranian oil and gas fields, the implementation of liquefied natural gas projects and the construction of gas pipelines. Iran soon announced its plans to buy 9 million cubic meters of Russian gas, which is expected to be transited via the Azerbaijani territory.