MoU with Siemens to reduce Iran’s energy consumption

Business Materials 4 May 2016 20:30 (UTC +04:00)

Baku, Azerbaijan, May 4

By Farhad Daneshvar - Trend:

Trilateral memorandum of understanding (MoU) between National Iranian Gas Company (NIGC), Oil Turbo Compressor Co. (OTC) and Siemens is aimed at contributing to the reduction of energy consumption in Iran, a spokesman with Siemens AG told Trend.

"Subjects of the trilateral MoU are to undertake studies covering existing systems and future plans of NIGC to develop methods to optimize and reduce energy consumption," Yashar N. Azad. Corporate Spokesperson at Siemens said.

"The purpose of the parties is to reach the solutions which help to maximize usage local capabilities and increase the quality of internal resources in Iran," he added.

According to the spokesperson, National Iranian Gas Company (NIGC), Oil Turbo Compressor Co. (OTC) and Siemens signed the MoU May 4 in Tehran.

Siemens is part of a large German business delegation now in Tehran, led by Parliamentary State Secretary at the German Federal Ministry of Economic Affairs and Energy Uwek Beckmeyer.

Siemens is among the first leading European companies resuming its activity in Iran following the implementation of the Joint Comprehensive Plan of Action (JCPOA) Jan. 16 which put an end to international sanctions against the Islamic Republic curbing Tehran's nuclear program.