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Home >> Business
UPDATED: 08:13, October 30, 2004
Iran a natural partner for China in energy sector, says Iranian oil minister
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Iran could be a natural partner for China particularly in energy, crude oil and natural gas sectors, visiting Iranian oil minister Bijan Namdar Zanganeh said in Beijing Friday.

Zanganeh made the remark when addressing a seminar on Iran-China Opportunities in Energy Sector.

Iran is regarded as the world's second biggest owner of crude oil and natural gas reserves, and OPEC's second crude oil producer. According to statistics offered by the Iranian embassy in China, Iran's recoverable oil reserves now exceed 130 billion barrels and its natural gas reserves are assessed to be more than 28 trillion cubic meters.

Iran can play a major role in filling China's long-term energy requirements, Zanganeh pledged. Crude oil, natural gas and petrochemicals are the main focus of the developing ties in economic and industrial spheres.

Iran, for its part, is prepared to invest in various parts of China's oil, gas and petrochemicals industries such as LNG-receiving terminals and related facilities, said Zanganeh. >

He said that Iran will work to develop its petrochemicals sector, in order to reach an output of 25 million tons per year in the next two years.


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