Iranian, Azerbaijani ministers mull prospects for cooperation (UPDATE)
Editor's note.: details were added after third paragraph
Azerbaijan, Baku, Jan. 12 / Trend T.Jafarov/
Baku hosted the meeting of Iranian Oil Minister Masoud Mir-Kazemi and Azerbaijani Industry and Energy Minister Natig Aliyev on Wednesday, Spokesman to Iranian Embassy in Azerbaijan Abbas Isgandari told Trend.
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.
According to the press secretary of the Azerbaijani Energy Ministry, Azer Mansimli, Azerbaijani Energy Minister Natig Aliyev and Iran's Oil Minister, current head of the OPEC oil cartel Masoud Mir-Kazemi at the meeting discussed prospects for cooperation in oil and gas sector, joint production and development of oil and gas fields, refining of oil and gas, sale or swap of hydrocarbons.
The sides discussed issues of cooperation in the petrochemical industry, as well as implementation of joint projects in this field.
At the meeting, a possibility was mentioned to create an oil bank to finance joint projects in the energy sphere. "But it is still regarded as an idea.
Based on this, after detailed study and research, the experts will make their proposals," said Mansimli.
The sides also exchanged views on cooperation in the field of alternative and renewable energy sources.