Five points of Iran-Azerbaijan energy cooperation
Iran and Azerbaijan have the potential to cooperate in the oil and gas sector, since the two countries boast huge deposits of oil and gas, and are capable to explore, produce, and export oil and gas. In October, the National Iranian Oil Company signed a memorandum of understanding in Baku to conduct exploration operations in the Caspian Sea. Iranian Oil Minister Bijan Namdar Zanganeh, accompanied by a delegation led by President Hassan Rouhani, arrived in Baku last week. In an interview with the Trend Agency, Zanganeh said in addition to the participation in the development of Azerbaijan’s Shah Deniz gas field, Tehran could cooperate with Baku in other projects. “In order of importance, cooperation in the development of Caspian Sea fields, cooperation in the establishment of a pipeline to export gas from the two countries to Europe, issues related to the underground storage of Iranian gas in Azerbaijan, transaction of oil products, and investment in other countries, are the most