Iran is ready to help meet European energy needs through pipeline or liquefied natural gas deliveries, Iranian Oil Minister Bijan Zangenah said.

European leaders are working to find new sources of natural gas in an effort to break Russia's grip on the regional energy sector. With one of the largest gas reserves in the world, Zangeneh said Iran was ready to help.

"As a country capable of supplying gas in very big volumes, Iran is always willing to be present in Europe's market, either through pipeline or in LNG form," he told the Oil Ministry's news agency Shana.

Iran lays claim to South Pars, a premier gas basin in the Persian Gulf. Zangeneh said Sunday several phases of the field should be on line in the coming years, though heavy investments are needed for development.

Any extra gas from South Pars could be available for export, Zanganeh said. Those prospects were raised with European leaders almost a decade ago.

"As far as I know, these talks have been halted and no chance was provided for the continuation of these talks in recent years," the minister said.

Russian energy supplies linked to EU economic recovery
Brussels (UPI) May 5, 2013 - The European economy is expected to recover, though any major disruption to oil and gas supplies would be a setback, the European Commission said Monday.

"Europe's economic recovery began a year ago and is expected to become broad-based across countries," Vice President of the European Commission Siim Kallas said in a speech Monday from Brussels.

The European Commission said it expects real gross domestic product to grow 1.6 percent this year and accelerate to 2 percent next year.

It warned, however, that economic recovery may depend in part on the ongoing crisis over Ukraine.

"Should further rising tensions with Russia lead to major disruptions in oil and gas supplies with a sharp rise in prices, the negative impact on a number of member states could be sizable," the EC warned.

Russian President Vladimir Putin warned European leaders last month the mounting debt in Ukraine was creating risks to European energy security.

Russia meets about a quarter of Europe's gas needs, though most of the supply runs through a Soviet-era transit network in Ukraine.

The European Commission said consumer spending is expected to be the main driver of economic growth, which should be supported by an increase in wages and lower energy prices.