Iran offers Azerbaijan to cooperate in creation of free energy zone

Azerbaijan, Baku, Sept. 28 / Trend E.Ismayilov /

Iran offers Azerbaijan to cooperate in the creation of a free energy zone, Head of the Iranian Presidential Apparatus' department for control over economic issues and Assistant to Iranian Vice-President Aliaga Mohammadi said at the meeting with Azerbaijani Industry and Energy Minister Natig Aliyev.

Azerbaijan and Iran have great opportunities for the cooperation in oil and gas sector, as well as industry, particularly in areas such as sale of petroleum, oil and gas storage, processing, and others, Mohammadi said. The countries may cooperate in the form of Iranian side's operation in Azerbaijan and vice versa, as well as through joint ventures.

Aliyev said the Azerbaijan-Iran cooperation is possible on two levels. First - it's at the State level with regard to major energy projects (oil, gas and electricity sectors) that have strategic importance for both countries and second - cooperation of employers and businesses, aimed at developing infrastructure, industrial and other projects.

Azerbaijan and Iran are linked with a long-term cooperation in energy, at the level of energy exchange between the parties, Aliyev said. The construction of power plants Ordubad and Araz are good examples for this.  In addition, the work to increase energy exchange between the parties through the high-voltage transmission line Imishli-Parsabad is underway. It may bring the level of energy exchange between the parties up to 450 MW.

The Iranian side also offers its participation in building power plants with capacity of up to 3,000 megawatts in Azerbaijan.

Currently the work to build Energy Bridge Russia-Azerbaijan-Iran and Azerbaijan-Georgia-Turkey is underway. This creates a large potential for energy cooperation between the countries - participants of these projects.

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