• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 11 hours Shale Oil will it self destruct?
  • 8 hours Berkeley becomes first U.S. city to ban natural gas in new homes
  • 27 mins Today in Energy
  • 2 days Excellent Choice: Germany's Von der Leyen Secures Powerful EU Executive Top Job
  • 12 hours Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 21 hours Populist, But Good: Elizabeth Warren Takes Aim at Private-Equity Funds
  • 22 hours Mnuchin Says No Change To U.S. Dollar Policy ‘As of Now’
  • 2 days Migration From Eastern Europe Raises German Population To Record High
  • 1 day Washington Post hit piece attacking oil, Christians and Trump
  • 2 days White House insider who predicted Iran False Flag, David Goldberg found dead in his New York apartment
  • 13 hours Why Natural Gas is Natural
  • 2 days Germany exits coal: A model for Asia?
  • 9 hours LA Solar Power/Storage Contract
Fracking Under Fire In California

Fracking Under Fire In California

Despite its shale reserves and…

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s oil production in the…

Russia’s Gazprom To Help Build Iran-India Gas Pipeline

Pipeline

Russia’s state-controlled gas giant Gazprom will take part in a project for the construction of a gas pipeline between Iran and India, Russian media quoted Energy Minister Alexander Novak as saying on Wednesday.

Russia and Iran are expected to sign today a memorandum of understanding on Gazprom’s participation in the Iranian oil and gas sector. By the end of this year, the parties will draft and sign the legal framework for the project, Novak said. Indian, Pakistani, Russian, and Iranian companies will be taking part in the project, the Russian minister said.

According to Russian media, the pipeline is expected to be 1,200 kilometers (746 miles) long and will ship Iranian gas to India.

The parties will begin work on the project next year, after they will have signed all the legal paperwork later this year, according to Novak.

According to the Russian energy minister, there will be an underwater section of the pipeline. It’s early to talk about the amount of investments, but they will be big because there will be an underwater section in the Persian Gulf—it’s a capital-intensive project, Novak said.

Novak met on Wednesday with Iran’s Finance Minister Masoud Karbasian in Tehran, which Russia’s President Vladimir Putin is also visiting and will be meeting with Iran’s President Hassan Rouhani.

Related: Are Coal-Fired Power Plants Set For A Boost?

Russia has been growing its influence in the Middle East—it’s in apparent rapprochement with Saudi Arabia over the OPEC production cut deal, and its energy companies have been gaining more stakes in projects in the region.

Russia’s oil giant Rosneft said in September that it would look into the opportunity to build a $1-billion pipeline that will bring gas from Iraqi Kurdistan to Turkey. Rosneft—led by Putin’s close ally, Igor Sechin—has been intensifying links and deals with Kurdistan this year.

Earlier this month, Rosneft closed the deal to buy from Italy’s Eni a 30-percent stake in the offshore concession in Egypt where the giant Zohr gas field is located, for US$1.125 billion.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play