Iran, Russia To Cooperate Closer In Fuel And Energy

July 14, 2010
Iranian Oil Minister Mas'ud Mir-Kazemi is meeting Russian Energy Minister Sergey Shmatko today, a Russian Energy Ministry source told RIA-Novosti.
Iranian media reported on Monday that it is expected the two sides will sign an agreement during the visit to prepare a road map for cooperation between Iran and Russia in energy.
This road map will outline cooperation between the two states for 30 years and, according to Iranian secretary for oil ministry relations Hussein Ismail, will give investors from Iran the right to invest in Russia's oil and gas industry.
The agreement will also cover the sale of crude produced in one country on the other country's commodity exchanges, the estaqblishment of joint ventures and a join energy bank, Ismail said.
Copyright 2010, Novosti Azerbaijan. All rights reserved.