Russia-Iran Gas Supply Talks: A New Energy Chapter

Russia and Iran are in talks about supplying Russian gas to Iran. Russian President Vladimir Putin discussed the project with Iran's President Masoud Pezeshkian, aiming for potential annual supplies of 55 billion cubic meters. The move follows Russia's search for new gas markets post-Ukraine conflict.

In a significant energy development, Russia and Iran are in talks over the supply of Russian gas, according to Russian President Vladimir Putin. Addressing a joint press conference with Iranian counterpart Masoud Pezeshkian on Friday, Putin highlighted the potential for gas shipments to Iran to reach 55 billion cubic meters annually. Initially, the supply would commence with 2 billion cubic meters.

This initiative emerges as Russia seeks new avenues for its gas exports, having lost a stronghold on the European market due to geopolitical ramifications from the ongoing Ukraine war. The Russian energy sector is now pivoting towards new buyers to stabilize its market presence.

While both nations are progressing on discussions, Pezeshkian noted that certain technical issues remain unresolved. Addressing these challenges is crucial for moving the talks forward and achieving the proposed volume of gas trade between the two countries.

(With inputs from agencies.)