Tuesday 26 August 2008

Oil and Gas Ties between Iran and China

Managing Director of the National Iranian Oil Co. (NIOC) traveled to China on Sunday.

   

According to PIN, Seifollah Jashnsaz is heading a delegation to china at the invitation of the country's officials.

Jashnsaz expressed the visit aims at holding talks with senior officials from China's international oil companies on energy cooperation and developing bilateral relations in this field.

"The two sides will sign memoranda of understanding if agreement was reached on issues up for discussion," he said.

He further stated the Iranian delegation will speak about improving cooperation in the energy sector and oilfield recovery rates, the sale of liquefied natural gas (LNG) to China and China's presence in the South Pars gas field.

Iran and China have recently developed bilateral cooperation remarkably and it is currently at a good level. During recent years, the two sides have signed 10 oil and gas contracts. The trade volume between the two countries reached 20 billion U.S. dollars last year.



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