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Azerbaijan, Iran may set up energy bank
Today Az quoted Iran`s minister of petroleum, Seyed Masoud mirkazemi as saying Azerbaijan and Iran will discuss the possibility of establishing a joint energy bank.
 According to Today.Az report, during a press conference in Baku on Wednesday Seyed Masoud Mirkazemi told on the results of his visit that the issue would be discussed by a joint inter-governmental committee in Tehran.
“There are good opportunities to invest in oil and gas industry in both countries. We will conduct an in-depth analysis of the situation.”
The minister added: “Energy companies would feel free to trust their money to this energy bank and the bank would invest projects both in Azerbaijan, Iran and even third countries.”
Iranian minister of petroleum, Dr. Seyed Masoud Mirkazemi left Tehran to Baku on Wednesday to talk with Azerbaijani executives on energy issues.
Trading gas with the neighboring countries is among the Islamic republic of Iran’s policies. IR Iran is engaged in swapping one million cubic meter of gas a day with Azerbaijan Republic and autonomous Republic of Nakhjavan.
Iran and Azerbaijan plan to increase gas swap to 2.5 and 5 million cubic meters per day in two phases through increasing the capacity of current gas pipeline between the two countries.
Earlier Asghar Sohilipour who is in charge of gas trade at the National Iranian gas company (NIGC) had reported of an Iranian delegation travel to Azerbaijan Republic before the end of current Iranian year, 1389 (ending March 20 2011) to talk on increasing gas import from the neighboring country to one billion cubic meters of gas per year.
Gas price, technical matters and the gas specifications are among the other topics on the agenda.
Currently Iran is engaged in import, export and swapping gas respectively with Turkmenistan, Turkey, Azerbaijan and Republic of Nakhjavan amid Iran’s efforts to boost gas trade with the neighboring countries.
The Latest reports show that Azerbaijan Republic has started repairs of the common gas pipeline in order to raise gas export to Iran.
The ministry of petroleum’s deputy for international and commercial affairs and the managing director of the National Iranian Gas Company (NIGC) are accompanying the minister of petroleum in his visit to Baku.
Meanwile Spokesman to Iranian Embassy in Azerbaijan Abbas Isgandari told Trend that Baku hosted the meeting of Iranian Minister of petroleum Masoud MirKazemi and Azerbaijani Industry and Energy Minister Natig Aliyev on Wednesday.
Isgandari said the meeting discussed the Azerbaijani-Iranian expanding cooperation in the oil and gas sector based on the outcome of talks between the Presidents of the two countries, as well as issues of joint cooperation with third parties.
The two sides also discussed issues of swap transactions in petroleum products and their transport to the Persian Gulf.
Jan 16, 2011 13:48
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