Speaking to reporters following a ceremony to sign contracts for manufacturing and maintaining electropumps for Goreh-Jask Oil Pipeline Project on Monday, Zangeneh said he would also meet with his Russian opposite number Alexander Novak.

19 members of the Gas Exporting Countries Forum will gather in Moscow on Thursday (October 3) while the third Russian Energy Week will be held from Wednesday (October 2) through Saturday (October 5) in the Central Exhibition Hall of Moscow.

Algeria, Bolivia, Egypt, Equatorial Guinea, the Islamic Republic of Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela are the main 12 GECF members, along with Angola, Azerbaijan, Iraq, Kazakhstan, Norway, Oman and Peru which are observer members of the forum.

The GECF countries account for 44% of the world's gas production, 67% of the world's gas reserves, 64% of the share of gas pipeline and 66% of the liquefied natural gas (LNG) trade in the world.

Asked whether attacks on Saudi oil facilities had disrupted the market, he said: “No. right from the beginning I said the Saudis had magnified the case for political reasons. The situation was not at all as intense as the Saudis had said.”