Bank Of Baku

Iran, Azerbaijan take interest in joint development of gas fields

Iran, Azerbaijan take interest in joint development of gas fields
# 02 February 2009 14:49 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Iran is interested in the development of some gas fields in the Caspian Sea jointly with Azerbaijan, said Gulmammad Javadov, the Deputy Minister of Industry and Energy of Azerbaijan.
According to him, the Iranian delegation visited Baku last month to discuss the issues of cooperation between the two states in the oil and gas sector.

”Iran wants to participate in all projects in the oil and gas sector of Azerbaijan. The parties are now exploring ways of cooperation,” he added.
Javadov said that the fall in oil prices on the world market affects the price of gas. In his view, if this trend continues, the price of natural gas will go down.
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