TEHRAN (Dispatches) - Iran and Russia have inked two Memoranda of Understanding (MoUs) to develop the two countries' cooperation in gas industries, specially in area of the Liquid Natural Gas (LNG).
The MoUs were endorsed between Iran's Oil Ministry and Russia's Gazprom in Tehran in the presence of Iran's Oil Minister Bijan Namdar Zangeneh and Gazprom CEO Alexei Miller.
The MoU deals with implementation of an LNG project in Iran and making it operational. The agreement on the Iranian side was signed by Ali Kardor, the managing director of the National Iranian Oil Company (NIOC).
The other deal would also result in completion of Iran’s largest liquefied natural gas project, known as "Iran LNG”.

Iran-Russia Gas Plans Affect World Market: Minister
Meanwhile, after the National Iranian Oil Company and Russia’s Gazprom signed two memoranda of understanding, Zangeneh highlighted the far-reaching effects of cooperation with Russia in the gas industry, saying the two countries can determine the international market situation by holding the world’s largest gas reserves.
The cooperation between Iran and Russia, ranked first and second in the list of countries by gas reserves, would have decisive influence on the world market, Zangeneh told reporters in Tehran.
In November, Russia's state-controlled oil giant Rosneft said it has signed a road map with the National Iranian Oil Company (NIOC) to implement "strategic” projects with total investments worth up to $30 billion.