Russian and Iranian energy ministries have signed a joint statement expanding the two countries’ business cooperation in energy.
The document envisions the development of a roadmap for promising projects in the gas and oil sector.
Russian Energy Minister Sergei Shmatko and Iranian Petroleum Minister Masud Mir-Kazemi put their signatures to the document.
The two countries announced their intention “to study opportunities for establishing a joint bank to finance oil, gas and petrochemical projects.”
The document also stipulates crude sales at the two countries’ oil exchanges. A joint venture can be created to boost cooperation.
The parties agreed to consider an opportunity to draft a comprehensive intergovernmental agreement on energy before the end of the year in order to create favourable economic conditions for companies’ operation on the two countries’ territories.