Russia, Iran, Discuss Gas Supply Volumes Higher Than Russia’s Supplies To Europe

The Russian Energy Minister Sergei Tsivilev, together with Gazprom CEO Alexei Miller have held meetings with Iranian President Masoud Pezeshkian and Oil Minister Mohsen Paknejad, together with delegations from both sides.

They also met with the CEO of National Iranian Gas Company, Seyed Tavakoli. A strategic memorandum was signed with Gazprom in 2024 on exploring supplies of Russian natural gas to Iran.

The Russian Energy Ministry said that progress in implementing agreements reached following the 18th meeting of the Russia-Iran Intergovernmental Commission were also discussed. Particular attention was paid to preparations for the 19th meeting of the IGC, which will be held in Iran. Tsivilev and Paknejad co-chair the bilateral IGC.

Tsivilev said that supplies to Iran could begin as early as later this year. At the first stage, using existing infrastructure, they could reach up to 1.8 billion cubic meters per annum. The potential for Russian gas supplies to Iran is estimated at 55 billion bcm per year.

To put that into context, Russia sold 35 billion bcm of gas to the European Union in 2024, which positioned Russia as Europe’s largest gas supplier. Gas has not been subjected to EU sanctions, although the EU has stated it wishes to cut off all Russian gas supplies by 2027. Iran’s gas consumption potential can more than make up the difference and is also likely to spur Iranian industrial development.