News ID: 193902
Published: 0644 GMT May 31, 2017

Russia to help Iran build compressed gas plant

Russia to help Iran build compressed gas plant

National Iranian Gas Company (NIGC) and Russia's Gazprom are mulling a deal to construct a compressed gas plant in Iran, media reports said.

According to Fars News Agency, the two sides are likely to finalize a contract at St. Petersburg International Economic Forum which will kick off later this week, Russian-language media reported.

The St. Petersburg International Economic Forum (SPIEF) will take place from June 1-3, 2017 bringing together the chief executives of major Russian and international companies, heads of state, political leaders, prime ministers, deputy prime ministers, departmental ministers, and governors.

The event aims at macroeconomic cooperation as well as multilateral and regional partnership among the countries.

Gazprom, which was active for several years in the South Pars Gas Field, was involved in the second and third phases of the field since 1997 but discontinued work after the anti-Iran sanctions.

On March 28, National Iranian Gas Company and Gazprom signed a memorandum of understanding (MoU) in Moscow, in a ceremony attended by Iranian President Hassan Rouhani and his Russian counterpart Vladimir Putin, based on which Gazprom and NIGC agreed to develop mutual cooperation.

   
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