The Gazprom Headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Seifullah Jashnsaz, Deputy Petroleum Minister of Iran – Managing Director of the National Iranian Oil Company.

The parties discussed the implementation status of the Memorandum of Understanding entered into by Gazprom and the National Iranian Oil Company, and confirmed their interest in fortifying the mutually beneficial long-term partnership in the energy sector.

Background:

Iran’s proven natural gas reserves exceed 27.8 tcm. In 2007 natural gas production in Iran accounted for 111.9 bcm, consumption – 111.8 bcm.

The share of natural gas in the national energy balance totals 55 per cent, oil – 42 per cent, hydro energy – 2 per cent and coal – 1 per cent.

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

On July 13, 2008 Gazprom and the National Iranian Oil Company signed the Memorandum of Understanding.