Iran eyeing participation in Azerbaijan's energy projects
By Sara Rajabova
Iran wants to take part in energy projects initiated by its northern neighbor – Azerbaijan.
Bijan Namdar Zanganeh, Iran’s oil minister has expressed his country’s eagerness to participate in Azerbaijan’s oil and gas projects.
“Our region is an important center in the world's oil and gas activities,” Namdar Zanganeh said, adding Iran can take part in oil and gas projects of regional countries particularly Azerbaijan, Iraq and Turkmenistan.
However, he didn’t mention further details about the projects or participation mechanisms.
Zanganeh added that participation in regional projects would help Iran to improve on its oil technology, ISNA news agency reported May 7.
Iran needs to attract foreign investments in its oil and gas field in view of replacing and advancing its ageing technology. Tehran, as well as foreign companies are waiting for the removal of sanctions to resume cooperation.
“Iran’s cooperation with the world was always good but they were unkind to us. However now they are returning to cooperation,” he said.
Zanganeh further said the capacity of Iran’s oil and gas companies stands beyond the domestic demand.
He suggested that Iranian companies focus on taking part in regional markets once all international sanctions against Tehran are removed.
Earlier Mohsen Pak Ayeen, Iran’s ambassador to Azerbaijan said his country may join the Trans-Anatolian Natural Gas Pipeline (TANAP), which will carry Azerbaijan’s gas to European markets.
Iran holds 33.8 trillion cubic meters of proven natural gas reserves— or 18.2 percent of the world’s total proven reserves.
Iran and Azerbaijan have had diplomatic relations since 1918. Iran recognized Azerbaijan's independence in 1991, and diplomatic relations between the two countries were established in 1992.
Currently, the two countries are focused on expanding their economic ties, developing cooperation in various fields -- industry, agriculture, energy, alternative energy and transportation.
Tehran has in recent years focused seriously on developing its ties with neighboring countries, including Azerbaijan which enjoys various commonalities with Iran -- religious, historical and cultural.
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Sara Rajabova is AzerNews’ staff journalist, follow her on
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