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Iran, Turkey finalize energy roadmap

04 May 2011 14:39 (UTC +04:00)

Baku - APA. Iranian Energy Minister Majid Namjou says Tehran and Ankara have finalized an energy roadmap aimed at promoting investment and cooperation between the two neighbors, APA reports with reference to Press TV.

Speaking at a joint press conference with Turkish Energy Minister Taner Yildiz in Ankara on Tuesday, the Iranian minister hailed the efforts made by both countries’ teams of experts to finalize the roadmap.

The agreement will have a â€œpromising prospectâ€ for Iran-Turkey energy transactions, boosting the two countries’ electricity transmission capacity from â€œthe current 500 MW to 1000 MW,â€ IRNA quoted Namjou as saying.

Based on the roadmap, joint investments will be made to build thermal and hydroelectric plants as well as wind farms, he added.

The agreement is also intended to bring about further cooperation in terms of renewable energies, the Iranian minister said.

Iran, which holds one of the world’s largest oil and natural gas reserves, is Turkey’s second largest energy partner after Russia.

The Turkish energy minister, for his part, said that the new roadmap would help create fresh investments for the benefit of both countries.

"Turkey knows that Iran, Iraq, Azerbaijan, Russia and Turkmenistan are the key supplier countries, and that’s why we will turn to these countries to meet our demands," Yildiz said.

The Turkish government predicts that the country’s electricity consumption would double by 2023.