TEHRAN - Top decision makers of the National Iranian Gas Company (NIGC) and the Russian energy giant Gazprom convened a meeting yesterday in Tehran, exchanging ideas on their future plans.

In the meeting, initially ready-for-investment projects in Iran’s gas sector were introduced, where the investment size in infrastructural projects will amount to more than $62 billion in the coming years, the SHANA news agency reported.

According to Gazprom’s Deputy Chairman Alexander Medvedev, Iran’s decision to offer its oil projects under a revised framework has helped Russia to redefine its projects accordingly.

Medvedev underscored that Iran and Russia neighborhood, given their political ties and colossal gas reservoirs they sit on, can offer great opportunities for joint ventures.

Medvedev asserted that Gazprom has first-hand experience in different gas sectors, from which the NIGC can benefit.

Noting that managers from investment, construction, development, research, and technology elements of Gazprom are attending the joint session, Medvedev expressed hope for the signing of a memorandum of understanding in 2016 following the preliminary negotiations.

Also, in the meeting, Deputy Oil Minister Hamid Reza Araqi, in his capacity as the NIGC managing director, said in light of rich and unique capacities, Russia and Iran can pursue common goals in the aforesaid areas.

The lunching of bilateral cooperation and its continuation does necessitate the two sides to make it clear to one another their own responsibilities and remain committed to them, Araqi was quoted as saying in the session.

According to Araqi, the NIGC is a storehouse of experience and expertise in a variety of domains such as construction of gas transfer pipelines and gas refineries as well as gas storage facilities which can be a starting point for cooperation with the Russian Gazprom.

In addition to the aforementioned cooperation areas, Liquid Natural Gas (LNG) can be one more common ground.

Of note is that in the meeting, the 25-member Russian team headed by Alexander Medvedev exchanged ideas with NIGC official on possible future cooperation areas.

Also, Deputy Chairman of Gazprom's Management Committee, Member of Gazprom's Board of Directors Vitaly Markelov participated in the meeting.

AK/MA/