Iran Moves to Finalize Gas Swap Deal with Russia via Azerbaijan

【Iran Moves to Finalize Gas Swap Deal with Russia via Azerbaijan】

(1) Iran's Press TV reported that Iran announced it is about to finalize a strategic gas swap agreement with Russia via Azerbaijan, while also seeking new foreign energy investment commitments to further advance its footprint in the regional energy market.

(2) On the sidelines of the 28th Gas Exporting Countries Forum (GECF) Ministerial Meeting in Moscow, Iran's acting Oil Minister Bovard held trilateral talks with Russian Energy Minister Tsivilev and Azerbaijani Energy Minister Shahbazov, focusing on accelerating regional energy integration and securing market share amid volatility in Western markets. Bovard stated that a general consensus has been reached on the gas swap agreement, and technical work is now being advanced to finalize it.

(3) Bovard expressed optimism about the project's progress, saying that a Russia-backed pipeline infrastructure project transiting Azerbaijan is expected to be operational soon, enabling large-scale, smooth gas flows between Tehran and Moscow; in addition, he held bilateral talks with the Russian Energy Minister to discuss expanding Russian investment in Iranian oil and gas fields.