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Sechin’s oil price forecast is basically in line with Russia’s economic estimates from earlier this year.

Trio plus Kazakh agree to keep all options open including the possible extension of output cuts beyond next March.

The two sides will also discuss the possibility of installing five power generation stations with a capacity of 125 MW at Banias power plant.

Petronet will buy the LNG on delivered basis with a price equivalent to about 12.5 percent of Brent oil prices.

The two sides also exchanged views on expansion of relations in other domains. including energy. roads. agriculture and trade as well as tourism.

Iran for exporting its oil to Americas needs to carry out further studies.

The cooperation of non-OPEC countries. in particular Russia. is good in the deal to reduce oil supply.

The country is a minor player in the global hydrocarbons industry. extracting the equivalent of about 815.000 tonnes of oil per year.

The project has faced repeated delays since it was conceived in the 1990s to connect Iran'.s South Pars gas field to Pakistan.

The Russian Energy Minister noted that Moscow assumes ``the European partners are interested in the implementation of this project``.