Iran Seeks to Expand Energy Cooperation with Russia

Tehran (ANTARA) – Iran has put forward several proposals to Russia to develop cooperation in the energy sector, Iran’s Acting Oil Minister Hamid Bovard said on Monday (26 October).

“Alongside the ongoing joint plan for Russian investment in the development of Iranian oilfields, we have proposed to the Russian Government that cooperation in this area be expanded. We will see an exchange of energy resources,” Bovard was quoted as saying by the IRNA news agency.

He added that this had opened a new chapter in bilateral relations between Iran and Russia.

Bovard said Russia and Iran needed to resolve only a number of technical issues before an agreement on gas supplies between the two countries was ready to be signed.

The meeting was held in Turkmenistan and discussed several areas of common interest to the three countries.

In January 2025, Putin said Russian gas supplies to Iran under the proposed pipeline project could eventually reach 55 billion cubic metres a year.

However, Putin said supplies would need to begin at a lower volume, of up to 2 billion cubic metres.

At the time, Russian Energy Minister Sergey Tsivilev said a gas pipeline from Russia to Iran would pass through Azerbaijan. The two countries were in the final stages of negotiations and had agreed on an approach to pricing.