Gazprom’s MoU with the Iranian NIOC marks the next major step in oil and gas cooperation between the two countries. Gazprom has pledged its full assistance to the NIOC in the US$10 billion development of the Kish and North Pars gas fields. Gazprom will additionally be involved in the completion of various LNG projects. Russian President, Vladimir Putin, arrived in Tehran last week for the second time since he ordered the invasion of Ukraine on 24 February. Just before his arrival, Russia’s state gas giant, Gazprom, signed a US$40 billion memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) that is part of a wide-ranging agenda of increased cooperation between Russia and Iran. It builds upon ideas discussed in January between Putin and Iranian President, Ebrahim Raisi, and the visit early in June of Russian Deputy Prime Minister, Alexander Novak, both analysed in full by OilPrice.com , […]