The Gazprom Headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Gholamhossein Nozari, Petroleum Minister of Iran.

The parties discussed the results of the Gas Exporting Countries Forum held in Moscow. In addition, the meeting addressed the issues of the further cooperation development of Gazprom and the Iranian oil and gas companies. Exploration, development and operation of oil and gas fields in Iran were named as the key directions of cooperation.

The meeting participants confirmed their interest in strengthening the mutually beneficial long-term partnership in the energy sector.

Background:

Iran’s proven natural gas reserves exceed 27.8 tcm (the world’s second-largest after Russia). In 2007 natural gas production and consumption in Iran accounted for 111.9 bcm and 111.8 bcm respectively.

The share of natural gas in the national energy balance totals 55 per cent, oil – 42 per cent, hydro energy – 2 per cent and coal – 1 per cent.

Since 1997 Gazprom has been engaged in the pre-development and operation project for South Pars phases 2 and 3.

On July 13, 2008 Gazprom and the National Iranian Oil Company signed the Memorandum of Understanding.