Iran, Azerbaijan Set To Boost Energy Ties


Trend news agency
21 Aug 07

21 August, Baku: There are projects between Azerbaijan and Iran
on joint entry into the world market, which will promote regional
security, Azerbaijani President Ilham Aliyev said at a news conference
on the results of his talks with Iranian President Mahmud Ahmadinezhad
in Baku on Tuesday [21 August].

Both Azerbaijan and Iran may be involved in the Nabucco project in
the future, which is expected to increase gas export to Europe. The
capacity of the pipeline will exceed 20bn cu.m. of gas annually.

Speaking about the current energy operations, the Azerbaijani president
said that due to Armenia’s blockade, the second stage had started
in the project of delivering Iranian gas to the Naxcivan Autonomous

"Being neighbouring countries, Azerbaijan and Iran should support
each other," Aliyev said.

Azerbaijan and Iran are not making full use of their existing economic
potential, he said. Trade between the countries in 2007 has increased
by 60-70 per cent, and the sides intend to boost it further.