November 5, 2017 / 3:09 PM / in a year

Russia's Gazprom, Iran fund in initial deal - agency

The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin

DUBAI (Reuters) - Russian gas giant Gazprom signed an initial agreement with Iranian state-run investment fund IDRO to cooperate in unspecified oil, gas and energy projects, Iran’s state news agency IRNA reported on Sunday.

“The Industrial Development and Renovation Organization of Iran (IDRO) is fully ready to cooperate with Gazprom ... and this memorandum of understanding will help Gazprom take advantage of industrial opportunities in Iran,” IRNA quoted IDRO Chairman Mansour Moazzami as saying.

The report did not give details of possible future joint projects by Gazprom and IDRO, which in August signed a joint venture deal with French carmaker Renault and an Iranian company.

Reporting by Dubai newsroom; Editing by Edmund Blair

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