Thursday, February 29, 2024

Minister: Iran eyeing long-term regional energy deals

Iran, as the top producer of electricity in West Asia, is planning on signing long-term agreements in the electricity sector as part of its active diplomacy in the region, the Iranian energy minister says.

In an interview with Fars News Agency, Ali Akbar Mehrabian said Iran relies on its high electricity production capacity as well as its indigenous technical know-how for exports, construction, upgrading, repairing and maintenance of power grids.

Mehrabian said Iran pursues an ‘electricity diplomacy’ so, “in addition to solving the problems of the neighboring countries in this sector, the grounds would be prepared for generating a steady flow of income and using the maximum capacity of the country’s electricity grid.”

The minister also said Iran has signed its first long-term electricity contract with Iraq in line with this policy, explaining, “There have been several fields of cooperation between Iran and Iraq, including the numerous contracts for construction and development of power plants and maintenance of the existing electricity production units.”

Despite US sanctions, Iran is an indispensable source of energy for Iraq as it relies on the Islamic Republic for 45 percent of its 14,000 megawatts of electricity consumed daily.

Iran’s electricity grid is currently connected to several neighboring countries and it is implementing plans to link up its grid to neighboring Qatar for exports.

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