The National Iranian Gas Company (NIGC) and Russia's Gazprom are considering a deal to set up a compressed gas plant in Iran, said a report.

The two sides discussed the project at the St Petersburg International Economic Forum, which concluded yesterday (June 3), reports said.

The three-day forum saw attendance from chief executives of major Russian and international companies, heads of state, political leaders, prime ministers, deputy prime ministers, departmental ministers, and governors.

The event aimed at macroeconomic cooperation as well as multilateral and regional partnership among the countries.