Iran's Acting Oil Minister visits Moscow for gas summit

Hamid Bouvard, Iran's acting oil minister, has arrived in Moscow to participate in the 28th ministerial meeting and the 8th summit of the Gas Exporting Countries Forum (GECF). The meetings aim to strengthen cooperation among member nations, support sovereign rights over natural resources, and enhance energy security through information exchange and technological advancement.

During his visit, Bouvard toured the monitoring center of Russia's Zarubezhneft. Sergei Kudryashov, CEO of Zarubezhneft, presented the company's technical capacities and discussed potential collaboration with Iran's oil industry. Bouvard emphasized that Iran seeks better coordination in field development and export policies, noting that ongoing discussions include gas exchange and the possibility of a shared gas market.

The GECF represents countries that control approximately 70 percent of the world's proven natural gas reserves and 42 percent of global gas exports. Iran is a founding member of the forum.