Thursday, February 29, 2024

Iran joins countries exporting energy services to Europe

Iran joined the countries exporting energy services to Europe for the first time by signing a memorandum of understanding (MoU) with Romania.

The memorandum was inked by Managing Director of Iran Gas Engineering and Development Company Reza Noshadi and Mihai Tănăsescu of the Romanian company Gaz Vest.

Based on the MoU, Iran will export technical and engineering services in the gas sector to Romania, cooperating with the European country to construct gas pipelines and installations and develop the gas storage reservoirs.

Elaborating on the memo, Noshadi said the two countries reached the agreement to explore opportunities for joint ventures and interactions in different studies including the feasibility studies on the setting up of refineries, power plants and pipelines.

Iran and Romania, he continued, will also exchange their technical know-how and experience in the related areas and to that end form a working group composed of the two countries’ representatives.

Given the unilateral sanctions the U.S. has imposed on Iran, most of the world’s oil and gas giant companies stopped their cooperation with the country. But the Raisi administration has activated the energy diplomacy despite the restrictions and taken major strides toward opening up the closed doors to the world.

Taking the first big step, Iran, signed a gas swap deal with Turkmenistan and the Republic of Azerbaijan for the transfer of up to two billion cubic meters (bcm) per year in late November.

“Turkmenistan will sell 5-6 million cubic meters of gas per day to Azerbaijan Republic under the trilateral agreement.

Iran has major natural gas fields in the south, but has imported gas from Turkmenistan since 1997 for distribution in its northern provinces, especially during the winter.

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