Iran Becoming A Gas Hub in Region

Turkey had been expected to transit gas to Europe and the countries of the region but Iran’s active diplomacy at the Ministry of Oil in the administration of the late President Raisi provided Iran with this opportunity.

According to Owji, Iran and Russia sit atop 60 percent of the world’s gas reserves, so signing this MoU is a great achievement with an impact on evolving energy equilibrium in the region.

The principal framework for gas transfer from Russia to Iran has been on the agenda since a long time ago and the late president insisted on its finalization, he said, adding that there is a readiness for changing the memorandum of understanding (Mo) into a contract in a short time, which will be a turning point for both countries, according to Mehr news agency.

“With this agreement, Iran’s share of trade will rise causing changes in international balances. This agreement will act as a revolution in the energy and industry scene of the region,” he said.

This MoU between the holders of 60 percent of the global gas reserves, as clean energy, has been signed based on mutual interests in the international frameworks and will soon enter the contract and implementation stage, Owji said.