Iran capable of exporting 1.6 mm barrels of Caspian crude

Feb 25, 2004 01:00 AM

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.

Source: Asia Pulse
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