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Home >> Business
UPDATED: 15:03, April 10, 2007
Iran to enhance energy cooperation with China
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China has always been an excellent energy cooperation partner of Iran, and hopefully both sides would further expand and deepen their collaboration in the oil and natural gas industries, Iranian Oil Minister Kazem Vaziri Hamaneh said in Doha on Monday.

Both countries have chances to cooperate in all fields of the oil and natural gas industries, including exploitation, refining as well as terminal construction, Hamaneh, who is attending the sixth Gas Exporting Countries Forum (GECF) in Doha, told Xinhua.

Iran is not only a member state of the Organization of Petroleum Exporting Countries (OPEC), but also is rich in natural gas resources. Its natural gas reserves are second only to those of Russia. However, the country's natural gas industry has developed slowly, due to its backward technologies and facilities as well as the U.S. sanctions.

Speaking of Iran's failure to have its proposal for setting up a natural gas equivalent of oil cartel OPEC listed on the forum's agenda, Hamaneh said he also believed that the opportunity is not ripe yet for gas exporters to form such an organization.

What's most important at present is to enhance their cooperation and understanding, Hamaneh said.

Source: Xinhua

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