Iran and Russia to establish joint energy committee

Mar 02, 2009 01:00 AM

Iranian Oil Minister Gholamhossein Nozari and Russian Energy Minister Sergey Ivanovich Shmatko have agreed to establish a joint energy committee.
In a meeting in Tehran, Shmatko said, "Iran and Russia have close relations in the energy sector and the ground is prepared to enhance cooperation in this field."

An Iran-Russia working group on energy will hold a meeting in Tehran in the near future, he stated, adding that the two countries are interested in carrying out joint projects in other countries.
He went on to say that the current situation of the oil market does not serve the interests of oil-producing countries, so OPEC members should devise solutions to stabilize the market.

The Russian official proposed that Iran begins selling its crude oil on the St Petersburg's stock market as a step toward finding alternative markets for oil products.
Nozari said that the two countries have held negotiations on proposals for natural gas swaps, construction of a refinery in the Caspian Sea region and the Neka-Jask pipeline, as well as exploration and development of oilfields.

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