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Russian gas supplies to Iran will ensure energy security of the region — minister

"The signing of a document on the supply of Russian gas to Iran is a masterpiece of energy diplomacy," Iranian Oil Minister Javad Ouji said

DUBAI, July 17. /TASS/. Supplies of Russian gas to Iran under the agreement between Gazprom and the National Iranian Gas Company can ensure the energy security of Iran's neighboring countries, Iranian Oil Minister Javad Ouji said.

"The signing of a document on the supply of Russian gas to Iran is a masterpiece of energy diplomacy. It can lead to an economic revolution and ensure the energy security of all countries in the region that border Iran," the minister said on the IRIB TV channel after a cabinet meeting.

At the meeting, Ouji revealed the details of the Russian-Iranian agreement. A video with a fragment of his speech was published by the SNN channel. According to the minister, about 300 million cubic meters of gas will be supplied daily from Russia to Iran via the Caspian Sea.

"The costs of constructing all the requited infrastructure for [gas] supply will be incurred by the Russian Federation," he added. Based on the conditions specified in the agreement, Iran will be able to resell excess imported gas to other countries. As Oudji noted, the agreement was concluded for 30 years and annually it will bring Iran about $10-12 billion a year.

On June 26, the Russian company Gazprom and the Iranian National Iranian Gas Company signed a strategic memorandum on working out the arrangement of Russian gas supplies to Iran. Gazprom CEO Alexey Miller, who led the Russian delegation during the visit to Tehran, also discussed with Javad Ouji the priority steps to implement the memorandum and other areas of cooperation in the energy sector.

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