Iran attaches priority on foreign investment in energy sector
Baku, Azerbaijan, Sept. 2
By Fatih Karimov - Trend: Investment in Iran's oil, gas, and petrochemical sectors is the country's top priority in economic cooperation with other countries, Iranian Parliament Speaker Ali Larijani said.
He made the statement in a meeting with Deputy Speaker of the French Parliament Laurence Dumont, Iran 's official Shana news agency reported on September 2.
The meeting was held on the sidelines of the Fourth World Conference of Parliament Speakers in New York.
Iran holds ample reserves of oil and gas, which can play an effective role in meeting the energy needs of Europe, Larijani said.
Dumont, for her part, referred to the nuclear agreement between Iran and world powers as an opportunity for Iran to improve relations with the European Union.
Iran has announced that $185 billion investment is needed in upstream oil and gas sector, as well as $70 billion in petrochemical and $200 billion in optimizing energy consumer sectors to halve the energy intensity, which is two times more than global averages.
Several high-ranking European delegations plan to visit the country in the near future to explore the avenues to promote trade ties with the Islamic Republic. The visits follow a breakthrough in Vienna last month by Iran and the P5+1 group of countries - the five permanent members of the Security Council plus Germany - over the Iranian nuclear program.
Edited by CN