Russia’s TMK Eyes Supplying Pipes to Iran Oil, Gas Industry

News ID: 1024053 Service: Economy

TEHRAN (Tasnim) – A senior official with TMK, Russia’s largest manufacturer of steel pipes for the oil and gas industry, said Wednesday the company is in talks to supply Iran’s oil and gas sector with pipes.

“We have a program underway to supply some pipes through spot sales and are working on a longer-term contract which could include pipes to transport oil and gas as well as produce it,” Vladimir Shmatovich, senior vice president for strategy and business development at TMK, said, The Wall Street Journal reported.

“Iran is a very important market for us,” he added.

TMK was a major supplier of pipes to Iran’s oil industry before the removal of anti-Tehran sanctions. 

Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran’s nuclear program and implemented it on January 16.

The comprehensive nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran after coming into force.

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