Gazprom and NIGC sign Memorandum of Understanding
RELEASE
Release
A working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, and Hamid Reza Araqi, Iranian Deputy Oil Minister, Managing Director of the Iranian National Gas Company (NIGC), took place in Tehran today as part of the meeting of the Intergovernmental Russian-Iranian Commission on Trade and Economic Cooperation.
The parties discussed bilateral cooperation in the energy industry.
In the course of the meeting, Alexander Medvedev and Hamid Reza Araqi signed the Memorandum of Understanding outlining potential areas of cooperation between the companies. Specifically, the document envisages the establishment of joint working groups.
Background
National Iranian Gas Company, which is wholly owned by Iran's Oil Ministry, is focused on natural gas treatment, transmission and marketing.