The signing of a memorandum of understanding last week between Russian state gas giant Gazprom and the National Iranian Gas Company to begin direct transfers of gas from Russia to Iran strengthens the influence both countries have on the global gas market.
The signing of a memorandum of understanding MoU last week between Russia n state gas giant Gazprom and the Iran ian National Gas Company NIGC to begin direct transfers of gas from Russia to Iran “will act as a revolution in the energy and industry scene of the region”, according to Iran ’s Petroleum Minister, Javad Owji.
“Gas is widely seen as the optimal product in the global transition from fossil fuels to renewable energy, so controlling as much of it as possible will be the key to energy-based power over the next ten to twenty years, just as it was for Russia in Europe with its gas and oil supplies before the Ukraine invasion,” a senior source who works closely with Iran’s Petroleum Ministry exclusively told OilPrice.com recently.
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