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Iran, China to boost energy cooperation

BEIJING (IRNA) -- Iran's Ambassador to Beijing Fereydoun Verdinejad said here Wednesday that Iran and China enjoy great potentials to boost long-term cooperation in various oil, gas and petrochemistry fields.

Talking to IRNA, he added during a visit by Iran's Oil Minister Bijan Namdar Zanganeh to China on Thursday, the two sides are to explore avenues for long-term cooperation regarding Iran's rich energy resources and China's increasing demand for energy.

Several countries have made great investments in oil and gas fields in Iran during recent years, he said, adding Iran and China will also sign an agreement on boosting cooperation in the fields of oil, gas and petrochemistry.

He noted that a contract on long-term purchase of Iran's liquefied natural gas (LNG) by China will be finalized during Zanganeh's stay here.

Joint ventures in Iran's oil-rich regions and China's oil industry are among other issues to be discussed.

A one-day conference dubbed as "Opportunities for Iran-China Cooperation in Energy Fields" will be held in the presence of Iran's oil minister and officials of China's Development and Reforms Commission as well as deputy ministers and heads of the two countries' oil companies.

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