Iran’s Energy Market Attractive For Russian Economic Activists

Tehran, Sept 10, IRNA - A senior Russian official says if the conditions other countries provide for investment in the oil and gas sector are offered by Iran too a great development would occur in the oil and gas activities in Iran. Speaking at the conclusion of the 11th session of the Permanent Commission on Iran-Russia Trade and Economic Cooperation on Tuesday night, Russian Energy Minister Alexander Novak referred to the interest of Russian companies to rehabilitate Iranian power plants and said: “They seek to construct new power plants.” The Russian minister pointed to the construction of Bushehr Power Plant and said: “It is interesting for Russia that Iran intends to construct 20 nuclear power plants,” adding that negotiations have been underway for the construction of 10 thermal power plants and transmission lines between the two countries. He said the Iranian market was attractive for economic activists in his country, adding that Russia was interested in exploration of Iran’s hydrocarbon resources. However, he regretted, due to the international sanctions cooperation between the two countries has been limited so far. “Rule and regulations limit operation of foreign companies in the country. Such limitations do not let foreign companies to cooperate in Iranian projects on the basis of product distribution.” He said energy, technical products and machinery constitute the axes of cooperation between the two countries. He referred to the letter of understanding he had signed with his Iranian counterpart Bijan Namdar Zanganeh at the end of the 11th Permanent Commission session and said: “Our future activities would be based on the document which was signed at the end of the session.” Representatives of 40 Russian companies and 100 economic activities attended the session. The Russian minister said ties between Iran and Russian stood at a very good level, adding that generally interaction and cooperation between the two countries at international level has been turned into a traditional cooperation. He said the two sides, in addition to suitable trade relations, also enjoy good political ties and in a near future presidents of the two countries will meet./end