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Iran-Russia Gas Swap Deal in Final Stages: Oil Ministry Caretaker

  • October, 25, 2026 - 16:34
  • Economy news
Iran-Russia Gas Swap Deal in Final Stages: Oil Ministry Caretaker

TEHRAN (Tasnim) – Caretaker of Iran’s Oil Ministry Hamid Bovard announced that a gas swap agreement between Iran and Russia is in its final stages, adding that the two countries are also pursuing expanded cooperation in the oil and gas sectors.

Economy

Speaking during a visit to Russia, Bovard referred to a meeting of the Gas Exporting Countries Forum (GECF), saying Iran, as one of the organization’s founding members, holds talks with other members on production and energy cooperation, particularly in the gas sector.

He noted that the summit is being held at the level of heads of state, adding that the Iranian president would outline Tehran’s positions the US crimes and the bombing of the country’s infrastructure, while emphasizing the expansion of cooperation with countries active in the energy sector.

On gas cooperation between Tehran and Moscow, Bovard said the two countries reached an overall agreement on gas swaps during a meeting between their presidents in Turkmenistan, and technical arrangements for its implementation are being pursued.

“The agreement is almost finalized,” he said, adding that gas swaps could begin soon if a pipeline project being pursued through the Republic of Azerbaijan is completed.

Bovard also highlighted bilateral cooperation in the oil sector, saying Russia is developing four major oil fields in Iran and that the two sides have concluded appropriate contracts for the projects.

He described the progress of the projects as satisfactory, noting that they could also be discussed during the summit if necessary.

The caretaker oil minister stressed that Iran and Russia would continue to pursue broader economic cooperation, particularly in the oil and gas industries.

 
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