Iran forges better energy links with China

Apr 19, 2009 02:00 AM

A senior Iranian political figure has said that the country is looking to China as a major potential energy partner. Iran's first vice president, Parviz Davoodi, in China for the Boao Forum for Asia Annual Conference 2009 said that the road is "completely open for oil and gas relations with China".
"We consider Iran as one of the most stable countries in the Middle East to provide necessary energy source for China," Davoodi added.

The official also encouraged Chinese investment in Iran's major industries, including oil and gas.
Iran, which holds the world's third largest oil reserves and second largest gas reserves has shown that it is keen to both substantially raise exports and encourage international investment into the country.

However, recent developments in the country have made many companies think twice about investing. Shell and Repsol were recently given a May 20 deadline after stalling on signing a new agreement for two phases of the South Pars gas field.
It was also reported that due to Iran's continued pursuit of nuclear capabilities, Israel had threatened air strikes against the country.

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