Iran capable of exporting 1.6 mm barrels of Caspian crude
Iran can export 1.6 mm barrels of crude from the Caspian Sea after refining in its northern refineries, said Deputy
Oil Minister for international affairs Hadi Nejad-Hosseinian.
Nejad-Hosseinian said at a seminar on “Opportunities and Challenges of Iran’s Membership in the Energy
Charter Treaty” that efforts are underway in cooperation with other international key players to remove the
negative aspects of US sanctions on Iran.
He expressed hope that sustainable development, and stability in the gas rich states, will be guaranteed in the long
run in light of the doctrines that are based on dialogue, understanding and multilateral cooperation within the
framework of international bodies such as the ECT, that is supported by Europe.
Elsewhere in his speech, Nejad-Hosseinian said that Iran would not be keen on signing up to the ECT if Treaty talks
are held with Russia without the participation of Iran and other gas rich states and continue in a way that Russia
and Turkey remain as an inaccessible route to Europe. Iran is weighing the negative and positive points of accession
to the Energy Charter Convention.
For a country like Iran that has a significant position in terms of energy it is important to sign up to the
important convention.
Accession to the convention would facilitate foreign investment, lower investment risk rate, provide greater
involvement in global natural gas and LNG markets and the export the fuel through pipelines.