The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Ali Agha Mohammadi, Iranian Deputy Vice President for Economic Affairs.

The parties discussed the opportunities for Russia and Iran to develop cooperation in the oil and gas industry.

Special attention was paid to the global energy market trends and the issues of strategic partnership within the Gas Exporting Countries Forum activities. The meeting participants were of one mind that global energy security improvement hinged on consolidated efforts by the global energy companies participating in the Forum.

Background

Iran holds some 29.6 trillion cubic meters of proven natural gas reserves (the world's second largest reserves after Russia). In 2010 Iran produced about 200 billion cubic meters and consumed approximately 140 billion cubic meters of natural gas. The share of natural gas in the national energy balance is at 57.9 per cent, oil – 40.8 per cent, hydro power – 0.6 per cent, coal – 0.7 per cent. Domestic gas consumption is rapidly growing – about 7 per cent a year.

Since 1997 Gazprom has been engaged in the South Pars pre-development and operation project, Phases 2 and 3.