Russia’s Gazprom, Iran to sign cooperation pactJuly 13th, 2008 - 5:00 pm ICT by IANS
Tehran, July 13 (RIA Novosti) Russian energy giant Gazprom and Iran’s petroleum ministry will sign Sunday a memorandum of cooperation in oil and gas production. “Interaction between Iran and Russia in all spheres and especially in the energy sphere is very wide. We expect to further broaden this cooperation in the future,” Iran’s deputy oil minister Hossein Noghrehkar Shirazi said.
Shirazi said a series of discussions would precede the signing of the cooperation memorandum.
Iran ranks fourth in terms of crude reserves after Saudi Arabia, Iraq and Kuwait. It is also the fourth largest oil producer after Saudi Arabia, the United States and Russia.
Iran’s proven gas reserves total more than 28 trillion cubic metres.