Iran sits on the world's second largest reserves of natural gas and is fourth when it comes to oil. But much of that potential has been dormant, given Iran's ongoing tensions with the US and bitter rivalries with many of its neighbors. That could be about to change, as Iran gears up to strike energy cooperation deals with bordering countries and as far as Latin America.

Iranian President Ebrahim Raisi visited Venezuela, on the first leg of his three-nation tour that also include Cuba and Nicaragua. The two countries signed numerous energy deals that covered overhauling refining capabilities of natural gas, to boosting oil production. Iran and Venezuela, both currently under heavy US sanctions, have also stepped up cooperation with US adversaries China and Russia. Earlier this month, Iran's oil minister said Tehran was planning to create a gas hub in the country's south, together with other natural gas giants, Russia, Qatar and Turkmenistan. But could Iran join already existing energy networks in the region, including the TANAP pipeline that runs through Turkiye?

Guests:
Sergey Kapitonov
Analyst at Skoltech

Jonathan David Lamb
Oil and Gas Analyst at Wood & Company

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