TEHRAN (Tasnim) � Iranian Oil Minister Bijan Namdar Zanganeh on Monday said the country can become a regional gas hub in the near future.

Iran can become a regional gas hub and a reference for pricing gas in the region, Zanganeh said on Monday.

He made the remarks to reporters after a meeting with Russian Energy Minister Alexander Novak on the fringes of the Gas Exporting Countries Forum (GECF) underway in the Iranian capital.

In order for Iran to turn into a regional gas hub, the country�s gas market structure should move toward short-term gas contracts and single cargo sales, the Iranian oil minister said.

He added that long-term gas contracts rule out the possibility of constant changing of gas price over time.

Elsewhere in his remarks, Zanganeh said Russia has expressed interest in learning more about terms and conditions of Iran�s new model contract for oil and natural gas projects.

�We view Russia as a long-term and strategic (trade) partner,� he went on to say.

Iran is scheduled to announce a new development contract model at conferences in Tehran on November 28-29 ?and in London in February.

The third Summit of leaders of the GECF member states is underway in Tehran.

The presidents of Iran, Bolivia, Russia, Equatorial Guinea, Nigeria, Venezuela, Iraq, and Turkmenistan as well as Algeria�s prime minister are attending the Monday meeting.

The Summit affords GECF member states the opportunity to discuss at the highest level developments, trends, and policies on energy in general and gas in particular and also to reaffirm their continued support to the objectives of the Forum.

The forum, founded in 2001, unites leading natural gas exporting countries and coordinates cooperation between its member states.

Iran, Russia, Algeria, the UAE, Venezuela, Qatar, Egypt, Bolivia, Libya, Equatorial Guinea, Nigeria, and Trinidad and Tobago are the members of the forum and the Netherlands, Kazakhstan, Peru, Iraq, Oman, and Norway hold observer status.

By Tasnim News Agency