Oil minister: Iran, Russia may soon sign gas supply agreement

Iran notes progress in negotiations on Russian gas supplies, and a contract may be signed soon, Iranian Oil Minister Mohsen Paknejad said following a meeting of the Russian-Iranian intergovernmental commission on trade and economic cooperation in Tehran, Report informs referring to Russian media.

"We have made progress on this issue with our Russian colleagues and hope that we will soon be able to sign a contract for implementation," he said.

The minister noted that Iran is taking all steps to increase domestic gas production and has reached record levels.

"However, due to necessity and the imbalance that still exists in our country, we are still seeking opportunities to import gas from Russia," Paknejad noted.

He also noted that Iran welcomes the broader participation of Russian companies in the joint development of oil and gas fields.

"Regarding oil fields, I must add that we welcome all Russian companies interested in developing these fields, oil and gas fields, in matters of investment and joint work," he said.