Iran should use national currencies in joint energy projects
An Iranian official suggested that national currencies should be used in Tehran's joint projects on oil and gas with
Russia.
"We want our national currencies to be used in our projects," said Iranian Deputy Petroleum Minister Hossein
Noghrehkar Shirazi.
Shirazi, who was attending a Moscow meeting on bilateral long-term cooperation in the oil, gas and petrochemical
spheres, said the measure would enhance the financing of large-scale projects. According to the Iranian minister,
Tehran plans to double its gas output to a daily 1 bn cm in five years. Its daily oil production will also increase
by 1 mm barrels to 5 mm barrels.
Deputy Energy Minister Sergei Kudryashov said major Russian companies, including Gazprom, were currently in energy
talks with Iran.
Tehran and Moscow account for 18 % and 40 % of global oil and gas reserves.
