This could be the end of the Dollar and US control of Oil and gas in the MiddleEast
Oil Minister Gholam Hossein Nozari on Monday gave word of conclusion of a memorandum of understanding (MoU) with Russia for energy cooperation.
The document was signed on the sidelines of an OPEC meeting in Vienna on Sunday. “One of the most important considerations in this MoU is the subject of gas swap between the two neighbors,“ he told Mehr News Agency. The MoU was reached two weeks after Moscow invited Tehran to sell crude oil at the St. Petersburg Commodity Exchange, saying it would enhance the world trading platform. Moscow said that the deal is important, especially at a time when oil-exporting countries “are diversifying their trade infrastructure on the world oil market.“ “We believe that there are very good, fundamental prospects for Russia’s close cooperation with Iran on its natural gas supplies to Europe,“ the country’s oil Minister Sergei Shmatko said during a meeting with Nozari in Tehran on March 3. Regarding the issue of gas swap, Nozari said, “Under the present circumstances, for transporting gas from the south of the country to the north some 2,000 km of high pressure pipeline should be constructed that will entail high costs. If the issue of gas swap between the two countries is finalized, we should receive gas from Russia in the north and then deliver it in the south. Negotiations are presently underway for finalizing the issue.“ Nozari emphasized that one of Iran’s plans for increasing its share in the global gas markets is to swap 50 million cubic meters of gas with Central Asian and Caucasus countries. “Iran is pursuing the plan for constructing a pipeline called ’Sarakhs’ to Jask,“ he noted. Joint Venture Nozari also said Iran and Russia will establish a joint oil company. “The aim of the joint venture will be to carry out joint oil and gas activities in the two countries and in other places.“ Previously, Oil Ministry officials had given word of an agreement between Iran and Russia to build a crude oil refinery in Armenia.
