Tehran, Iran, June 22
By A. Shirazi - Trend:
Russia is seeking to provide $50 billion and finance major oil and gas projects in Iran, a Fars news agency report said June 22.
Senior Russian officials have officially expressed Moscow’s willingness to participate in Iran’s oil and gas projects.
The report added that Russia is planning to finance oil and gas projects in Iran worth $50 billion, as it is present in 12 memoranda of understanding since the 2015 nuclear agreements between Tehran and world powers.
Russian and Chinese firms, unlike European companies, are maintaining their presence in Iran irrespective of the threats of the new US sanctions, following Washington's pullout from the deal on May 8.
From among Russian companies, only Lukoil, the country’s second biggest oil producer, has decided not to go ahead with plans to develop projects in Iran at the moment.
Recently, a senior official with Gazprom said Russia's gas giant is in talks with the National Iranian Oil Company (NIOC) to develop four gas fields in Iran.
The company plans to expand its reserve base abroad and is stepping up talks on its participation in four Iranian fields, namely Kish, North Pars, Farzad A and B, under a memorandum with the National Iranian Oil Company, deputy chairman of Gazprom's management committee, Vitaly Markelov, told a press briefing on June 17.
Also, Gazprom deputy CEO Alexander Medvedev shrugged off concerns over the potential renewal of US sanctions on Iran later this year by saying, "If you can't stand the heat, get out of the kitchen!" but added that Gazprom would assess all the technical, economic, and sanctions risks.”
As the company is looking at monetization options and supply routes for future Iranian gas, it is considering deliveries via the Iran-Oman or the Iran-Pakistan-India pipelines -- the latter is still awaiting signatures from Pakistan and India -- as well as gas liquefaction, Markelov said.
Iran has offered Gazprom participation in the Iran LNG project, on which the parties have signed a memorandum, he said, adding that the company was only carrying out an audit of the project, after which it would decide on any potential involvement.