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According to the report of the public relations of the NIGC, Iranian Minister of Petroleum, Javad Owji, announced the news in a televised program adding the issue will certainly have a great impact on the regional energy equilibrium.

Refereeing to the MoU, Owji noted that Iran and Russia have together more than 60% of the world’s gas reserves.

“The signing of the MoU will yield favorable changes in the energy balance in the region, while Iran will be fully ready to receive gas from Russia with its infrastructure and gas transmission lines,” added the minister.

The gas agreement between Iran and Russia will act as a revolution in the energy and industrial field of the region, Owji said.

The MoU was signed between the National Iranian Gas Company (NIGC) and Russian energy giant Gazprom in Iran’s capital Tehran in the presence of Iran’s acting president Mohammad Mokhber and Gazprom’s CEO Alexei Miller.