Tehran, Moscow discuss gas co-op

Iran Materials 9 April 2011 10:28 (UTC +04:00)

The CEO of Russian energy giant Gazprom, Alexei Miller, and the Iranian Deputy Vice President for Economic Affairs, Ali Aqa-Mohammadi, held gas talks in Moscow on Thursday.

During the meeting the two sides called for a greater role by the Gas Exporting Countries Forum (GECF) in the establishment of security in the international energy market, and further cooperation between gas producing and exporting companies in GECF member states for a greater global energy security, IRNA reported.

"The parties discussed the opportunities for Russia and Iran to develop cooperation in the oil and gas industry," the Russian company said in a statement. "Special attention was paid to the global energy market trends and the issues of strategic partnership within the GECF activities."

The GECF was established in Tehran in 2001 as a forum to boost cooperation among member states, namely Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela.

The organization controls 70 percent of the world's natural gas reserves and 85 percent of the world's liquefied natural gas (LNG) production.

Russia holds the most natural gas reserves in the world with Iran a close second.

State-run Gazprom has played a role in the giant South Pars gas field off the coast of Iran since 1997.