Thursday, February 22, 2024

Iran, EU Stress Formation of Energy Trade Forum

Iran and the EU signed a Memorandum of Understanding (MoU) to cooperate in energy, as the EU Foreign Policy Chief Federica Mogherini visited Iran on Saturday

Based on the document, Iran and the EU agreed to start high-level talks to create confidence between shareholders of the two sides, create opportunities for investment to provide energy distribution security, and spread the use of clean energy. They also considered consumption management, an efficient and transparent energy market, the transfer of expertise, and encouraging energy trade.

They also emphasized exchanging information about oil and gas demand and distribution, improving investment conditions in Iran, developing Iran’s export infrastructure, and cooperating in upstream and downstream fields.

They vowed to work on strategies for boosting power infrastructures, setting up a transparent legal framework for attracting investment, and developing energy and renewable energy.

The two sides also agreed to form an energy trade forum with the involvement of public organizations and producers to analyze conditions and create a proper atmosphere for investment.

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