The Russian Government has announced plans to build a gas pipeline linking Russia and Iran that would allow the delivery of up to 55 bcm/year of natural gas. The initiative would commence with smaller volumes of 2 bcm/year, gradually ramping up to 55 bcm/year, i.e., equivalent to the capacity of the Nord Stream 1 gas pipeline to Europe. The proposed pipeline would notably run through the territory of Azerbaijan. No timeframe for the project has yet been given and the price of supplies is under discussion.
In June 2024, Russia’s Gazprom had signed a memorandum of understanding with the National Iranian Gas Company to facilitate the supply of Russian pipeline gas to Iran. Iran is considerating creating a regional gas hub with Russia, Turkmenistan and Qatar.