State from the Middle East seeks to buy a lot of Russian gas

The Iranian Ministry of Petroleum declared on Monday that Azerbaijan will soon be the main conduit for Tehran’s daily import of nine million cubic metres of Russian gas.

The idea was made public in a report detailing a $40 billion agreement inked in July between the National Iranian Oil Company (NIOC) and Russia’s state-owned gas producer Gazprom, according to Fars News Agency.

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Additionally, according to reports, the country’s oil ministry, it will be receiving six million cubic metres of gas per day from Russia as part of a swap agreement. Liquefied natural gas will be used to export the gas from southern Iran to other nations (LNG).

Along with the completion of many LNG production projects in the nation, the agreement also calls for the building of gas pipelines from Iran to Pakistan and Oman.

The formation of a gas OPEC-style alliance by Moscow and Tehran, which would give them influence over pricing and the ability to coordinate a “exceptional” part of reserves, was revealed by OilPrice last month.

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