Owner: An owner can configure peering.
A Global administrator can configure peering.
Network Contributor:
The accounts you use to work with virtual network peering must be assigned to the following roles:
§ Network Contributor: For a virtual network deployed through Resource Manager.
§ Classic Network Contributor: For a virtual network deployed through the classic deployment model.
Reference:
https://docs.microsoft.com/en-us/azure/cloud-adoption-framework/govern/resource-consistency/governance-multiple-teams