World Business and Economic Analysis
World Business and Economic Analysis
Japan’s Mitsubishi sees no limits in expanding cooperation with Iran in numerous areas, one of its officials told IRNA on Wednesday.
Director General of the company’s department in charge of petrochemical affairs Heideki Konishi said Iran’s economic specifications in terms of human and natural resources makes it different from any of its rivals, IRNA reported.
He said his company has places no limits in cooperating with Iran in petrochemical projects.
Noting that Mitsubishi is already in cooperation with Iran in various areas especially the private sector, the Japanese official expressed hope that his company could play a remarkable role in promoting the petrochemical industry activities here which already enjoys a bright global prospect.
According to Konishi, Mitsubishi is presently active in 90 world countries in a wide range of activities from natural resources to small-scale industries, recruiting a workforce of 65,000 from different nationalities.
He said Iran enjoyed a very skilled work force which would facilitate development process in the country.
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Director of Gas Transmission Operation (District 8) has announced the possibility to increase gas export or swap with Caucasus countries like Armenia and Azerbaijan.
Yadollah Baibordi referred to the latest status of exports and swap of Iran’s natural gas adding “about one million cubic meters of natural gas per day has been exported to Armenia since the beginning of the current Iranian calendar year.”
Baibordi underlined the existence of primary infrastructures to increase the amount of gas exports to Armenia including pipelines, export terminals as well as compression facilities; “upon reaching a final agreement with the Armenian side, the possibility exists to export 10 million cubic meters of gas to the neighboring country on a daily basis."
Stressing that Iran is currently able to export a total of three billion cubic meters of natural gas to Armenia annually, the official said the export of gas to Armenia is carried out in exchange for the purchase of electricity.
He further recalled the export of more than 250 million cubic meters of gas to Armenia since the beginning of the current Iranian year adding “in the meantime, a daily average of about 1.5 million cubic meters of natural gas has been transferred from Azerbaijan to the Nakhchivan Autonomous Republic via Iran’s gas network.”
Baibordi referred to the import of about 140 million cubic meters of gas from Azerbaijan; “the swap volume of Iranian natural gas with Nakhchivan has reached more than 130 million cubic meters since the beginning of the year,” he explained.
“With the operation of the ninth national pipeline, it would become possible to increase the volume of gas exports to interested countries like Turkey, Armenia as well as Caucasus region countries,” noted the official.
The official highlighted the operation of gas compression facility in Tabriz concluding “with the implementation of the project, the gas export capacity in the north-western areas of the country will reach more than 50 million cubic meters a day.”
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Iran and Sweden highlighted energy and petrochemical as the two sectors which are most appropriate for the expansion of economic ties between the two countries.
Iran’s Oil Minister Bijan Namdar Zanganeh met with visiting Sweden’s Minister for Enterprise and Innovation Mikael Damberg in Tehran on Sunday.
During the meeting, Zanganeh referred to petrochemical, fuel conservation, and manufacturing of equipment and machinery as the major areas for boosting economic relations between Iran and Sweden, according to the Shana news agency.
Iran provides petrochemical products at the lowest price and through the easiest accessible ways to the region, the oil minister highlighted.
Iran’s transportation fleet requires to be renovated and ten thousands of old trucks and buses should be replaced with new ones, Zanganeh noted, adding that such a situation can turn Iran into a large market for Swedish companies.
Also, in a separate meeting between Damberg and Iranian Energy Minister Hamid Chitchian, the Iranian minister said that the presence of Swedish companies in Iran’s water and renewable energy market can bolster economic ties between the two countries, the IRNA news agency reported.
The official said Swedish firms can cooperate with the Iranian Ministry of Energy in the treatment of water for drinking purpose in cities and villages as well as in the establishment of wastewater treatment systems in addition to water consumption management in Iran.
In the coming years Iran will rely on distributed generation and combined heat power (CHP) for electricity generation, he further announced.
The minister also put emphasis on the necessity of managing surface and ground water resources in Iran given drought the country is tackling.
Damberg, who arrived in Tehran on Saturday heading a business delegation to explore cooperation opportunities in the field of trade and investment, for his part named Iran the prioritized market for his country in the Middle East.
He said Swedish companies are ready for any type of cooperation and investment in the solar, wind and hydroelectric energies as well as water and wastewater in addition to electricity projects in Iran.
European firms are racing to secure business opportunities in Iran after Iran and the P5+1 group of countries reached an agreement over Tehran’s nuclear program in the Austrian capital of Vienna on July 14.
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CAP: Iranian Oil Minister Bijan Namdar Zangeneh (Right) visits Sweden’s Minister for Enterprise and Innovation Mikael Damberg
Iranian Energy Minister Hamid Chitchian (Left) in a meeting with Mikael Damberg
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