News ID: 121928
Published: 0308 GMT July 08, 2015

Minister: Iran, Turkey agree on power exchange, export

Minister: Iran, Turkey agree on power exchange, export

Iran's Energy Minister Hamid Chitchian announced on Wednesday that Tehran and Ankara have reached agreements on the export and also exchange of electricity.

Chitchian told the Turkish Ambassador to Iran Hakan Tekin that there are plenty of opportunities for cooperation between Iran and Turkey, Tasnim News Agency reported.

Chitchian pointed to the numerous similarities between the electricity systems of the two countries including the amount of production, the span of service lines, and the characteristics of transmission lines.

Iran is keen to expand ties with Turkey, particularly in the export and exchange of power, the Iranian minister underlined, announcing that certain agreements have been reached to this end.

Tekin said Turkey's limited energy resources can contribute to enhanced cooperation between Tehran and Ankara, particularly in the field of electric power.

Turkey relies heavily on foreign energy resources, such as natural gas and oil, which drive almost half of all the electricity production in Turkey and cost up to $60 billion a year.

Iran and Turkey plan to raise trade exchanges to $30 billion by 2015.

In line with this, the two neighboring countries have agreed to implement a new deal to replace national currencies with US dollar in their mutual transactions.

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