Iran and Russia reach agreements on energy hub, Tehran says

Russia has suggested the formation of an energy hub between Tehran and Moscow, the chief executive of the National Iranian Gas Company (NIGC) said, adding that agreements have been made in this regard and expert-level talks are still ongoing between officials of the two countries.

Majid Chegini made the remarks in a news conference on August 7 and said that his company has taken giant strides in supplying gas to almost all parts of the country in the current administration's term, Tasnim reports.

The deputy oil minister pointed to the huge volume of investment made in the gas industry in the administration of President Ebrahim Raisi and said smartening the nationwide gas distribution network of the country is among the prioritized projects the company pursues.

He further said constructive talks have been held with countries such as Oman, Russia and Pakistan in the field of gas trade and that some European countries are also requesting to import gas from Iran.

Russia has proposed setting up an energy hub between Tehran and Moscow, Chegini stated.

Iran’s export of gas to neighbouring Iraq and Türkiye has registered a 16 per cent hike there has also been a considerable rise in the field of producing Liquefied Petroleum Gas (LPG) with the completion of infrastructures of transferring gas at South Pars Gas Field, NIGC chief concluded.