Iran Approved $2 Billion Projects With European Partners, Says Khazaei

During the first day of the Iran-EU Conference, signs of strong cooperation emerged, with Iranian leaders making the case for European investments in the country. 

According to officials, Iran has completed negotiations with some European companies approving more than $2 billion in projects, with Iranian LNG possibly reaching Europe in 5-10 years.

"We are recently witnessing the return of European investors to the country. Some of these negotiations have concluded, and we have approved and granted them the foreign investment licences and protections," said Mohammad Khazaei, Deputy Minister and President of OIETAI.

During his intervention in Vienna, he explained that the government held negotiations with European companies and approved projects for more than $2 billion in the past couple of weeks.

Meanwhile, according to TASS, Iran’s Deputy Oil Minister Amir Hossein Zamaninia said that the country could start LNG supplies to Europe in 5-10 years.

The conference in Vienna seems like the place where political declarations are getting along with serious business meetings. Apart from the oil and gas industry, much attention has been devoted on the automative and heavy vehicle industry. According to online documents and pictures, Iran also signed a contract for JV with German and Austrian companies. 

Apart from Italian, German, French, British, Spanish, and Austrian companies, also Turkish players voiced their interest to increase cooperation with Iran.