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Iran Proposes to Swap Oil, Gas With Russia

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Iran has proposed to swap oil and gas with Russia, Press TV quoted oil minister Bijan Zangeneh as saying.

Zangeneh said the proposal was raised during a meeting on Wednesday with the visiting Russian energy minister Alexander Novak.

According to the proposal, Iran would receive natural gas, oil and oil products from Russia through its northern terminals and will sell equivalent volumes of the same products to Russia’s clients through its southern terminals, Press TV reported.

Zangeneh suggested that Iran and Russia have adequate facilities to proceed with this swap mechanism.

Tehran has been using a similar mechanism with Turkmenistan, Kazakhstan and Azerbaijan for over a decade through which it would receive oil from the three Caspian states at its Neka terminal and would deliver equal amounts with similar specifications to their clients at its southern ports.

natural gas asia

4 Comments on "Iran Proposes to Swap Oil, Gas With Russia"

  1. marko on Sun, 25th Oct 2015 12:30 pm 

    I don’t understand. What a fuck they are waiting. They talk about this for years.

  2. rockman on Sun, 25th Oct 2015 1:15 pm 

    Interesting facts about Iranian energy:

    Iran is an energy superpower. Iran is in a constant battle to use its energy resources more effectively in the face of subsidization and the need for technological advances in energy exploration and production. Energy wastage in Iran amounts to six or seven billion dollars (2008). The energy consumption in the country is extraordinarily higher than international standards. Iran recycles 28 percent of its used oil and gas whereas the figure for certain countries stands at 60 percent. Iran paid $84 billion in subsidies for oil, gas and electricity in 2008. Iran is one of the most energy-intensive countries of the world, with per capita energy consumption 15 times that of Japan and 10 times that of European Union. Also due to huge energy subsidies, Iran is one of the most energy inefficient countries of the world, with the energy intensity three times higher than global average and 2.5 times the middle eastern average. Half of the country’s energy is wasted in domestic sector, 3.4 of which is wasted through single-occupancy vehicle use and 2/3 parts of power plants’ energy are also wasted.

  3. JuanP on Mon, 26th Oct 2015 9:09 am 

    Thanks, Rock! Those are some amazing stats. There is nothing but pain ahead no matter where we look. Energy and food subsidies are not smart. They make things worse and the future harder. Iranians will have to learn to live with less, just like most of us.

  4. Boat on Mon, 26th Oct 2015 9:19 am 

    Many food subsidies are smart if targeted to build a market. Cheaper fruit and vegetables work because the payoff is in health benefits.
    Like with solar and wind. Soon they will not need subsidies. That was a smart use of government dollars. Just as research on fracking was.

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