My profile:
Gazprom has agreed to develop more phases of Iran's giant South Pars gas field and enter the country's oil sector, the firm said on Tuesday.
New investment by a Russian energy firm is unlikely to be well received in the United States, which has been seeking to isolate Iran over its nuclear ambitions and has been urging foreign firms to cut business ties.
Gazprom said in a statement the deal was clinched on Tuesday at talks between chief executive Alexei Miller and Iranian Energy Minister Gholamhossein Nozari. It did not give any figures for investment commitments.
"The two sides have agreed jointly to develop two or three blocks of South Pars as well as Neft's participation in oil production projects in Iran," the statement said.
Gazprom is already involved in phases two and three of South Pars together with France's Total and Malaysia's Petronas.
Iranian officials could not be reached for immediate comment.
Iran holds the world's second-largest gas reserves at 28 trillion cubic meters compared to 47 trillion in Russia.
Iran produces 100 billion cubic meters of gas per year, less than one-fifth of Gazprom's production of 550 bcm, but has ambitious plans to grow output further, mainly through larger output from South Pars, believed to be the world's largest gas field.
The agreement takes place as Iran is calling on Russia to set up an OPEC-style gas cartel.
Gazprom Says It Will Work On Iran Fields
20 February 2008
Reuters
Discussion
Comments
To post comments you must be registered
Comments via Facebook
Most Read
1.
During Debate, Mikhalkov Admits he Would Vote for Opponent
Nikita Mikhalkov, film director and official backer of presidential candidate Vladimir Putin, admitted during a debate that he would vote for his opponent Irina Prokhorova, sister of billionaire presidential candidate Mikhail Prokhorov, if she were on the ballot.
2.
Russian Man Causes Chaos at Amsterdam Airport
A 40-year-old Russian man shouted that he was carrying a bomb in Amsterdam's busy Schiphol airport on Monday, causing a disruption that resulted in flight cancellations and delays.
3.
'One-Handed' AK-47 Replacement Unveiled
The Kalashnikov that has been designed to replace the iconic AK-47 was officially presented Tuesday, while engineers at the Izhmash plant in Udmurtia, where the weapon is made, said modifications are ongoing.
4.
Moskva Hotel Reopens as Mall
A slew of Moscow real estate players unveiled a reconstructed Moskva Hotel on Tuesday, relaunching the premier Soviet hotel as a commercial center with 70 shops, a department store, underground parking and a hotel.
5.
From South Ossetia to War With Georgia
While the Russian authorities are, for the time being, using kid gloves to deal with the opposition at home, they have not shown the same constraint in South Ossetia.
6.
Putin Proposes Creating a Free Speech Space in Moscow
Prime Minister Vladimir Putin said Tuesday that Moscow should have a site similar to London's Hyde Park where people are always free to express their views.
7.
Real Market Value to Determine Property Tax
If the government's plans come to fruition, this year will be spent completing property evaluations across the country according to market-based standards, paving the way for the implementation of a new property tax, which could partially enter into force as early as 2013.
8.
Why Russians Like Vodka More Than Lenin
When we witnessed the fall of the Soviet Union 20 years ago, we also witnessed the fall of its monuments. The general impression was that we were observing something unique and unusual. But the tendency to destroy old symbols and build new ones is as old as humanity.
9.
Ekho Shake-Up Stirs Censorship Fears
The announcement on Tuesday of a boardroom shake-up in the country's most prominent opposition radio station and a decision to nix a critical television talk show has raised fresh concerns over media freedom.
10.
Official Quits Over Visa Tiff
A Federal Migration Service official involved in the expulsion of French author Anne Nivat from the country over a visa issue resigned Tuesday.
1.
Putin Chasing Imaginary American Ghosts
Here we go again — another round of anti-Americanism from the Kremlin and state-controlled media. Blaming outside forces for Russia's woes has a long history in the country. The closer we get to the March 4 presidential election, the more intense the anti-American hysteria becomes.
2.
Moscow Is Unlovable and Unlivable
Today's Moscow is unlovable and unlivable, overdeveloped, underserved by public utilities and choked by traffic. You can't drive, you can't breathe, there is no place to park and walking is impossible thanks to giant SUVs lining the sidewalks.
3.
Report: United Russia Might Be Dismantled
United Russia, the country's dominant political party for more than a decade, might be radically reformed or even dissolved in the coming months.
4.
Journalist Booted After Visa Violation
A prominent French writer and journalist has been kicked out of the country on the grounds that she did not have the right to research a book while on a business visa.
5.
Putin Plan Targets Population Drop
Prime Minister Vladimir Putin unveiled his plan on social policy Monday, focusing on how Russia will boost its dwindling population amid a demographic crisis that threatens to turn the country into "void space."
6.
St. Petersburg Anti-Gay Law Advances
St. Petersburg lawmakers on Wednesday approved at the crucial second reading a bill introducing fines for advocating gay and lesbian relationships in front of children and promoting pedophilia.
7.
Nation Ticked Off After a Winter of Summer Time
The famous proverb, "Early to bed, and early to rise, makes a man healthy, wealthy and wise," was penned by American founding father Benjamin Franklin. He was also the first to suggest implementing daylight-saving time.
8.
Russia Gets Bad Rap Over Syria
As the violent standoff between Syria's security forces and armed opposition groups roils the country, the crisis has opened heated divisions at the United Nations Security Council.
9.
Putin Calls For More Religion on TV
Prime Minister Vladimir Putin said at a meeting with religious leaders Wednesday that the "voice of the church" should have a greater presence on state-run television channels and that more TV programming should be devoted to religious topics.
10.
Putin Aide: Corruption Was 'Civilized'
Corruption in Russia was "normal" and "civilized" during Vladimir Putin's first stint as president and support for him has grown stronger as a result of recent opposition rallies, the prime minister's campaign manager has boasted.
1.
Election Webcam Installation Begins
In a city that was once the cradle of Russian democracy, an unprecedented new campaign kicked off over the weekend to install web cameras in every polling station around the country in an effort to prevent voting fraud.
2.
Feminist Punk Band Become Unlikely Putin Foil
Pussy Riot, a feminist punk collective from Moscow, creates protest through its dissident songs and unsanctioned performances, including a brief unauthorized concert in late January on Red Square.
3.
Why Putin Will Never, Ever Give Up Power
If Putin gave up power at any age, he and dozens of his friends and colleagues who have become millionaires and billionaires over the past 10 years through their Kremlin-connected businesses could face serious corruption charges. This is why the best, and perhaps only, way for Putin to preserve immunity is to stay in power until death.
4.
Why Putin Is Mad at Me
Prime Minister Vladimir Putin got very angry last Wednesday when he met with the editors-in-chief of Russia's top media outlets.
5.
Russia Seeks Proof U.S. Zapped Failed Probe
A Russian state commission investigating the crash of the Fobos-Grunt Mars probe will conduct tests to see whether U.S. radar played a role in the spacecraft's failure.
6.
Putin Stand-In Faces Zhirinovsky Fire
In Tuesday's second presidential debate of the campaign season, firebrand Vladimir Zhirinovsky harangued Prime Minister Vladimir Putin's levelheaded proxy over her patron's refusal to debate and alleged desire to rule for life.
7.
Recruiters Say Mother Russia Seeking Talent
Demographics make it a candidate’s market, but foreigners have to offer something unique to find their place.
8.
Pro-Putin Song Is Web Hit
A schmaltzy music video hailing Prime Minister Vladimir Putin as Russia's savior became a hit on the Russian Internet on Tuesday, with many bloggers and YouTube users poking fun at the song's hyperbolic lyrics.
9.
From Protest to Nausea
The history of successive authoritarian regimes in Russia reveals a recurring pattern: They do not die from external blows or domestic insurgencies.
10.
Why Putin Is So Scared of Debates
Putin has always been the ultimate "Teflon president" — but certainly not in the Ronald Reagan sense of the word. Putin's brand of Teflon is clearly made in Russia. Because he wants to avoid uncomfortable questions about his decade-long rule, Putin is once again refusing to participate in presidential debates.
