Iran, Russia negotiating for $8-10 bln deal in energy sector

Photo: Iran, Russia negotiating for $8-10 bln deal in energy sector / Finance

Baku, Azerbaijan, April 28
By Fatih Karimov - Trend:

Iran and Russia are negotiating to sign $8-10 billion worth deals in the field of energy.
During a meeting of Iran's Energy Minister Hamid Chitchian and Russia's Energy Minister Alexander Novak in Tehran, the two sides negotiated for building thermal and hydroelectric power plants, constructing power transmission lines and expanding supply networks, Iran's Mehr news agency said on April 27.
"If a final agreement is reached, Russia will export 500mW electricity to Iran," Novak said.
"In this line, power grids of Iran, Russia and Azerbaijan are projected to be connected to each other," the Russian minister added. "A draft of the agreement will be signed by the three countries soon."
The implementation of Iran-Russia energy agreements holds the key to expansion of bilateral relations in other economic spheres, Tehran's Ambassador to Moscow, Mehdi Sanaei said on April 25.
At a meeting with Russian Energy Minister Alexander Novak in Moscow, Mehdi Sanaei underlined the importance of the current year for promotion of Iran-Russia cooperation and called for the implementation of oil, gas and electricity deals signed between the two sides, according to Press TV.

Sanaei also expressed Tehran's willingness to purchase electricity from Russia and use the country's assistance in the construction of thermal power plants and renovation of two power stations in central and southwestern Iran.
Novak, who heads the Russian side of the Iran-Russia Joint Economic Commission, pointed to President Vladimir Putin's determination for the implementation of bilateral agreements with Iran.
He noted that Russia's Foreign Ministry has adopted the required measures in that respect and is making the arrangements for a visit by a Russian delegation to Iran and the drafting of a memorandum of understanding for the 11th meeting of the Iran-Russia Joint Economic Commission in Tehran.
Iran-Russia trade currently totals $5 billion a year, but economists say the two countries can at least quadruple the volume of their trade exchanges.

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