Iran, Japan to make unique partners in post-sanctions energy
Tehran, Iran, August 10
By Mehdi Sepahvand -- Trend:
An Iranian lawmaker said the new situations that have emerged in the wake of a recent deal between Iran and world powers will pave the way for unique cooperation between Iran and Japan in the energy sector.
The current situations are unique especially with regard to the long-term interests of Japanese companies, Amir Abbas Soltani, first secretary of the Iranian Parliament's Energy Commission told Trend August 10.
Situations have grown ripe for Iran to do international business after the deal which was struck between the Islamic Republic and the group 5+1 (the US, UK, France, Russia, China, and Germany) on July 14. According to the deal, economic sanctions against Iran will be lifted.
A Japanese delegation led by State Minister of Economy, Trade and Industry Daishiro Yamagiwa arrived in Tehran on Aug.8 for a two-day visit and held talks with Iran's senior officials, including Oil Minister Bijan Namdar Znganeh. The delegation comprises trade officials and executives of major Japanese industries such as Mitsui & Co., Kansai Paint Co., Sanden Holdings, Nippon Steel, Sojitz, ITOCHU and Kamematu.
Iran has great infrastructure in oil, gas, and other energy sectors and the Japanese companies are trying to catch up with Western companies in taking a share of the Iranian market, Soltani said.
Meanwhile, Iran needs investment by foreign companies with their technology and expertise and it is hoped that the two sides gain mutual interests from their joint work, the MP said.
He pointed out that Iran is a highly secure country especially when compared to a restive Middle East.
A country like Qatar did a great job in cooperation with Japanese, Korean and Western companies and now the neighbor country is providing 9 percent of the world's gas which is taken out of fields they share jointly with Iran, Soltani observed.
The world's largest gas reserve the South Pars is shared by Iran and Qatar. Iran's part of the field holds 13.3 trillion cubic meters of gas in place and 19 billion barrels of oil condensates, of which 9 billion barrels is extractable.
Edited by CN