BAKU, Azerbaijan, June 5. Russia intends to invest $8 billion in Iran's gas projects as part of a broader agreement between the two countries, said, Kazem Jalali, Iran’s ambassador to Russia, Trend reports.
Speaking at a meeting with a group of Russian intellectuals, Jalali stated that $5 billion of the pledged investment has already been finalized, while efforts are ongoing to sign agreements for the remaining $3 billion.
He also noted that discussions continue on the potential for gas swaps involving Russian gas through Iran.
Iran is considered the second country in the world with gas reserves, with approximately 34 trillion cubic meters of gas reserves. There are currently 22 active gas fields in Iran. Iran produces 1.07 billion cubic meters of rich gas daily from its gas fields.
The agreement was signed by the Presidents of Iran and Russia in Moscow on January 17, 2024. The agreement covers not only trade and economics but also cooperation in fields such as innovation technologies, peaceful nuclear energy, information and cybersecurity, counterterrorism, the Caspian Sea, and environmental issues.
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