Moscow IP – Iranian Minister of Petroleum, said on Thursday that Iran-Russia oil and gas swap would make Iran the region's energy hub.

Iran PressEurope: Javad Owji is accompanying Iran’s First Vice-President Mohammad Mokhber during his visit to Moscow to attend the second Caspian Economic Forum (CEF) meeting.

Owji stated that Iran and Russia had made a lot of collaboration on energy swaps.

He noted that the two states would make new agreements on establishing facilities and extracting joint gas fields, mentioning a joint investment with Russia’s Gazprom in LNG production and gas-related technologies.

The Iranian oil minister pointed out that the total agreements with Russian businesses on oil and gas had accounted for 40 billion dollars.

He also highlighted that Tehran and Moscow would jointly construct pipelines from Iran to Oman and Pakistan and swap up to 10 million tons of oil and non-oil products.

Owji expressed hope that the agreement to swap 15 billion cubic meters of gas would be finalized within weeks.


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