TEHRAN: Iranian Oil Minister Bijan Namdar Zanganeh held negotiation with Azerbaijani Minister of Economy and Industry Shahin Mustafayev to boost oil and gas cooperation on Tuesday.
Prior to the negotiation, Mustafayev had talked to President Hassan Rouhani.
There are plenty of grounds for the two country to cooperate, inter alia, developing Shah Deniz gas field and joint fields in the Caspian Sea, and gas export. What bring the two countries even closer together, are massive oil and gas resources they are sitting on and also, they hands-on experience of oil exploration, production, and export.
A formal contract will be clinched between Azerbaijani State Agency on Alternative and Renewable Energy Sources (SAARES) and Iranian Ministry of energy in the near future so as for Azerbaijani companies to be able to formally invest in generating renewable energies in Iran.
Iran’s ministry of energy plans to add 1,000 MW of renewable energy capacity annually to the country’s electricity network, Iranian deputy of energy minister Houshang Falahatian made the remark in the meet with Akim Badalov on Tuesday, who runs State Agency on Alternative and Renewable Energy Sources (SAARES).
Falahatian added that Iran-Azerbaijan electricity ties will develop with Azerbaijani companies investing in generating renewable energies in Iran.
The opportunity to cooperate with Iranian companies can provide Azerbaijan’s electricity demand and economic advantage as well, Akim Badalov stated.
