Iran and Russia concluded a memorandum of understanding, which will help them become the main gas cartel and control the market in the coming years, Iranian media write.
The agreement for $ 40 billion was signed last month by Gazprom and the NiOC National Iranian Oil Company (NIOC). Thus, they laid the foundation for the forum of gas exporting countries (FSEG) or “gas OPEC”. Thanks to the agreement, Tehran and Moscow will be able to coordinate the exceptional part of the world gas reserves and establish control over prices in the coming years.
After signing the agreement, the chairman of the board of directors of the Union of Exporters of oil products Iran Hamid Hoseini said that there would be no more competition between Russia and Iran. Countries together will be able to reduce the influence of the United States in the markets of oil, gas and oil products. It will be in the interests of both countries.