TEHRAN - An Iranian petroleum engineering company has committed to provide technical and maintenance services to Romania’s Gaz Vest as the East European country aims to take advantage of the expertise and technology that exist in Iran’s massive natural gas sector.
A statement by the CEO of Iranian Gas Engineering and Development Company (IGEDC) Reza Noshadi said the firm had signed a memorandum of understanding (MoU) with representatives of Gaz Vest in a meeting held earlier in the day in Tehran.
The statement said that the IGEDC will supply various technical services to the Romanian side, including on engineering and construction of gas pipeline networks, pumping stations and gas storage facilities.
Authorities from the National Iranian Gas Company (NIGC) oversaw the signing of the MoU, according to reports published in the local media.
Iran has one of the largest gas pipeline grids in the world as the network has expanded in recent years to cover hard-to-reach areas in the country’s mountainous west and in its arid east.
Natural gas expansion projects have enabled Iranian engineering companies to modernize their equipment and improve their technological capacities to get involved in major overseas projects.
The growing presence of Iranian firms in other countries comes despite the fact that Iran is still under economic pressure because of some of the most unprecedented sanctions imposed by the United States since 2018.
Noshadi said that the company eyes to launch more overseas projects now that it has successfully contributed to the expansion of the Iranian gas distribution and dispatching network.
Noshadi said the MoU signed with Gaz Vest will allow the two sides to exchange their experiences and to engage in joint investment and construction projects in Iran and Romania.