MNA – A Russian official said that National Iranian Gas Company (NIGC) and Russia's Gazprom will sign an agreement to construct a compressed gas plant in Iran products of which will be exported to Asian countries.


The official announced that the two sides are likely to sign a contract at St. Petersburg International Economic Forum, which kicks off in two days.

The St. Petersburg International Economic Forum (SPIEF) will take place from June 1–3, 2017, and brings together the chief executives of major Russian and international companies, heads of state, political leaders, prime ministers, deputy prime ministers, departmental ministers, and governors.

The event aims at macroeconomic cooperation as well as multilateral and regional partnership among the countries.

Gazprom, which was active for several years in the South Pars gas field, worked in the second and third phases of the field since 1997, however stopped work after anti-Iranian sanctions.

National Iranian Gas Company and Gazprom signed on March 28 a Memorandum of Cooperation in Moscow, in the presence of President Rouhani and his Russian counterpart Putin, based on which Gazprom and NIGC agreed to develop mutual cooperation.