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News number: 8902201653

19:12 | 2010-05-10

Economy

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Iranian Speaker Meets Turkish Energy Minister

TEHRAN (FNA)- Iranian Parliament Speaker Ali Larijani held a meeting with Turkish Minister of Energy and Natural Resources Taner Yildiz in Ankara on Monday and discussed ways to boost cooperation between the two countries.



During the meeting, Yildiz briefed Larijani on the trend of Turkey's investments in Iran as well as the decisions and measures adopted by Ankara with regard to a proposed pipeline for transferring Iran's gas to Europe via his country and import of Turkmenistan's gas supplies into Turkey.

Larijani, for his part, vowed to make his best efforts to help to the development of these projects.

Iran and Turkey have in recent years boosted their cooperation in the different fields of economy, energy, security, trade, education and culture.

The Turkish and Iranian governments signed an agreement in 2008, based on which Turkish Petroleum Corporation (TPAO) would produce 20.4 billion cubic meters of natural gas annually from three development phases of Iran's South Pars gas field.

In October Iran gave TPAO a one-month deadline to finalize the deal and develop phases 22, 23 and 24 of South Pars, but then extended the deadline by three months following talks between a high-ranking Turkish delegation and Iranian officials in Tehran.

South Pars gas field is estimated to hold about 14 trillion cubic meters of gas or about eight percent of the total world reserves.

Iranian Oil Ministry officials said in December that Turkey is to invest around $3.5bln to $4bln in Iran's South Pars gas field.