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EghtesadOnline: The National Iranian Oil Company and Russia’s Gazprom on Wednesday signed two memoranda of understanding in Tehran to cooperate in Iran’s natural gas project.

The first agreement, described as a “gas collaboration roadmap”, was signed by Gazprom CEO Alexei Miller and Ali Kardor, the NIOC chief, Shana reported. Oil Minister Bijan Namdar Zanganeh was present at the signing ceremony.

The second MoU, aimed at completing Iran’s largest liquefied natural gas project known as “Iran LNG”, was concluded by Miller and Nosrat Rahimi, the head of the board of directors at the Oil Industry Pension Funds. Iran LNG is reportedly more than halfway done with two storage tanks, a jetty and a power plant.

Work on the 10.8-million-tons-per-annum plant hit a wall in 2012 when international sanctions stopped Iran from buying special liquefaction technology from German contractor Linde, according to Financial Tribune.


NIOC Gazprom Iran natural gas project