TEHRAN – Iran and Russia have taken new steps for further expanding ties in the strategic energy sector on the sidelines of the 6th Russian Energy Week International Forum in Moscow.

As the portal of the Iranian Oil Ministry Shana reported, the country’s Oil Minister Javad Oji, who visited Moscow on top of a high-ranking delegation to attend the mentioned international event, met with senior Russian officials to discuss developing energy cooperation between the two countries.

In a meeting with Russian Deputy Prime Minister Alexander Novak on Wednesday, the two sides discussed ways to develop relations in various fields of oil, gas, and petrochemical industries, and explored ways of implementing bilateral contracts and signing new economic cooperation documents.

Speaking in this meeting, Oji said the relations between Iran and Russia have entered a new phase and the two countries are determined to develop and deepen relations in all areas.

The official pointed to the Rasht-Astara railway line, which is part of the International North-South Transit Corridor (INSTC), as one of the most important projects being implemented between Iran and Russia and said: “With the completion of this railway, the North-South intercontinental corridor will be completed and the volume of economic and transit exchanges between the two countries will increase significantly.”

Later that day, in his address to the 6th Russian Energy Week International Forum, Oji welcomed Russian President Vladimir Putin’s remarks on increasing energy exchanges between the two countries.

The minister further called for taking practical steps to create a gas hub on the northern coast of the Persian Gulf.

Tehran, Moscow ink MOU on oil, gas research co-op

Later on Thursday, Iran’s Institute for International Energy Studies (IIES) and Russia’s Roscongress Foundation signed a memorandum of understanding (MOU) on bilateral research cooperation in the oil and gas industry.

The MOU was signed by Mohammad Sadeq Jokar, the IIES head, and Alexander Stuglev, the Roscongress Foundation CEO, on the sidelines of the Russian Energy Week Forum.

Based on the MOU, the two research centers will jointly study proposed projects for energy cooperation between Iran and Russia as the first step and will announce whether a project is feasible and beneficial.

Iran exports $9b of petchem catalysts to Russia

The energy officials of the two countries also discussed the expansion of cooperation in the petrochemical sector on the sidelines of the mentioned forum, as the two nations are joining forces to neutralize the negative impacts of the U.S. sanctions on their oil industries.

In this regard, Iranian Deputy Oil Minister Ahmad Asadzadeh, who accompanied Oji on his visit to Russia, told the press that Iranian knowledge-based companies exported over $9.0 billion worth of petrochemical catalysts to Russia in the first six months of the current Iranian calendar year (March 21-September 22).

According to Asadzadeh, Iran exported $8.0 billion of such catalysts to Russia in the previous Iranian year, and the current year’s figures indicate an upward trend for the cooperation between the two countries in this field.

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Photo: Iranian Oil Minister Javad Oji (R) and Russia’s Deputy Prime Minister Alexander Novak address the 6th Russian Energy Week International Forum in Moscow on October 11.