Iran, Turkmenistan agree on electricity transit

Iran Materials 2 July 2014 16:20 (UTC +04:00)

Tehran, Iran, Jul. 2

By Milad Fashtami - Trend:

Tehran and Ashgabat have agreed on transiting Turkmenistan's surplus electricity through Iranian soil.

Iran's Deputy Energy Minister Esmaeel Mahsouli said on July 2 that Turkmenistan has a high potential for producing electricity so the country looks for a reliable way to transit its electricity to customers, Iran's Mehr News Agency reported.

He went on to note that Iranian firms have also been active in technical and engineering services exports.

"Currently Iranian firms are carrying out 70 water and electricity projects worth $3.8 billion in foreign countries," Mahsouli said.

"Negotiations are underway over another $2.3 billion worth of projects," he explained.

Iran's power generation capacity is currently over 70 gigawatts.

The country currently trades power with Turkey, Armenia, Turkmenistan, Azerbaijan, Pakistan, Afghanistan, Syria, and Iraq.

Iran seeks to become a major regional exporter of electricity and has attracted more than $1.1 billion in investments for the construction of three new power plants.